Correlation Between Samson Holding and Amazon
Can any of the company-specific risk be diversified away by investing in both Samson Holding and Amazon at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Samson Holding and Amazon into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Samson Holding and Amazon Inc, you can compare the effects of market volatilities on Samson Holding and Amazon 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 Samson Holding with a short position of Amazon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samson Holding and Amazon.
Diversification Opportunities for Samson Holding and Amazon
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samson and Amazon is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samson Holding and Amazon Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amazon Inc and Samson Holding 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 Samson Holding are associated (or correlated) with Amazon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amazon Inc has no effect on the direction of Samson Holding i.e., Samson Holding and Amazon go up and down completely randomly.
Pair Corralation between Samson Holding and Amazon
If you would invest 17,815 in Amazon Inc on January 20, 2024 and sell it today you would earn a total of 107.00 from holding Amazon Inc or generate 0.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Samson Holding vs. Amazon Inc
Performance |
| Timeline |
| Samson Holding |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Amazon Inc |
Samson Holding and Amazon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samson Holding and Amazon
The main advantage of trading using opposite Samson Holding and Amazon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samson Holding position performs unexpectedly, Amazon 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 Amazon will offset losses from the drop in Amazon's long position.| Samson Holding vs. Artisan Consumer Goods | Samson Holding vs. Torm PLC Class | Samson Holding vs. Portland General Electric | Samson Holding vs. Aris Water Solutions |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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