Correlation Between WIG 30 and ULMA Construccion
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By analyzing existing cross correlation between WIG 30 and ULMA Construccion Polska, you can compare the effects of market volatilities on WIG 30 and ULMA Construccion 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 ULMA Construccion. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and ULMA Construccion.
Diversification Opportunities for WIG 30 and ULMA Construccion
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between WIG and ULMA is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and ULMA Construccion Polska in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ULMA Construccion Polska 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 ULMA Construccion. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ULMA Construccion Polska has no effect on the direction of WIG 30 i.e., WIG 30 and ULMA Construccion go up and down completely randomly.
Pair Corralation between WIG 30 and ULMA Construccion
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.8 times more return on investment than ULMA Construccion. However, WIG 30 is 1.24 times less risky than ULMA Construccion. It trades about 0.28 of its potential returns per unit of risk. ULMA Construccion Polska is currently generating about -0.04 per unit of risk. If you would invest 280,576 in WIG 30 on December 29, 2024 and sell it today you would earn a total of 69,931 from holding WIG 30 or generate 24.92% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 98.41% |
Values | Daily Returns |
WIG 30 vs. ULMA Construccion Polska
Performance |
Timeline |
WIG 30 and ULMA Construccion Volatility Contrast
Predicted Return Density |
Returns |
WIG 30
Pair trading matchups for WIG 30
ULMA Construccion Polska
Pair trading matchups for ULMA Construccion
Pair Trading with WIG 30 and ULMA Construccion
The main advantage of trading using opposite WIG 30 and ULMA Construccion positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, ULMA Construccion 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 ULMA Construccion will offset losses from the drop in ULMA Construccion's long position.WIG 30 vs. Road Studio SA | WIG 30 vs. Drago entertainment SA | WIG 30 vs. CI Games SA | WIG 30 vs. Play2Chill SA |
ULMA Construccion vs. LSI Software SA | ULMA Construccion vs. PZ Cormay SA | ULMA Construccion vs. PMPG Polskie Media | ULMA Construccion vs. Bank Millennium 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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