ALTANA Financial Statements From 2010 to 2022

Pair Trading with ALTANA AKTIENGESELLSCHA

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ALTANA AKTIENGESELLSCHA position performs unexpectedly, the other equity 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 ALTANA AKTIENGESELLSCHA will appreciate offsetting losses from the drop in the long position's value.

ALTANA AKTIENGESELLSCHA Pair Correlation

Correlation Analysis For Direct Indexing and Tax-loss Harvesting

The ability to find closely correlated positions to Bristol-Myers Squibb could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bristol-Myers Squibb when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bristol-Myers Squibb - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bristol-Myers Squibb to buy it.
The correlation of Bristol-Myers Squibb is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bristol-Myers Squibb moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bristol-Myers Squibb moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bristol-Myers Squibb can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Check out Trending Equities. Note that the ALTANA AKTIENGESELLSCHAFT information on this page should be used as a complementary analysis to other ALTANA AKTIENGESELLSCHA's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.

Other Tools for ALTANA Stock

When running ALTANA AKTIENGESELLSCHAFT price analysis, check to measure ALTANA AKTIENGESELLSCHA's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ALTANA AKTIENGESELLSCHA is operating at the current time. Most of ALTANA AKTIENGESELLSCHA's value examination focuses on studying past and present price action to predict the probability of ALTANA AKTIENGESELLSCHA's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move ALTANA AKTIENGESELLSCHA's price. Additionally, you may evaluate how the addition of ALTANA AKTIENGESELLSCHA to your portfolios can decrease your overall portfolio volatility.
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