Correlation Between WIG 30 and Inpro SA
Specify exactly 2 symbols:
By analyzing existing cross correlation between WIG 30 and Inpro SA, you can compare the effects of market volatilities on WIG 30 and Inpro SA and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in WIG 30 with a short position of Inpro SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Inpro SA.
Diversification Opportunities for WIG 30 and Inpro SA
Very weak diversification
The 3 months correlation between WIG and Inpro is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Inpro SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inpro SA and WIG 30 is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on WIG 30 are associated (or correlated) with Inpro SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inpro SA has no effect on the direction of WIG 30 i.e., WIG 30 and Inpro SA go up and down completely randomly.
Pair Corralation between WIG 30 and Inpro SA
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.66 times more return on investment than Inpro SA. However, WIG 30 is 1.51 times less risky than Inpro SA. It trades about 0.21 of its potential returns per unit of risk. Inpro SA is currently generating about 0.03 per unit of risk. If you would invest 309,286 in WIG 30 on December 2, 2024 and sell it today you would earn a total of 18,883 from holding WIG 30 or generate 6.11% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
WIG 30 vs. Inpro SA
Performance |
Timeline |
WIG 30 and Inpro SA Volatility Contrast
Predicted Return Density |
Returns |
WIG 30
Pair trading matchups for WIG 30
Inpro SA
Pair trading matchups for Inpro SA
Pair Trading with WIG 30 and Inpro SA
The main advantage of trading using opposite WIG 30 and Inpro SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Inpro SA can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Inpro SA will offset losses from the drop in Inpro SA's long position.WIG 30 vs. Quantum Software SA | WIG 30 vs. SOFTWARE MANSION SPOLKA | WIG 30 vs. Examobile SA | WIG 30 vs. Mercator Medical SA |
Inpro SA vs. Creativeforge Games SA | Inpro SA vs. LSI Software SA | Inpro SA vs. SOFTWARE MANSION SPOLKA | Inpro SA vs. Monnari Trade SA |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
Analyst Advice Analyst recommendations and target price estimates broken down by several categories |