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Correlation Between INBAR GROUP and Alcoa

Analyzing existing cross correlation between INBAR GROUP FIN and Alcoa Corporation. You can compare the effects of market volatilities on INBAR GROUP and Alcoa 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 INBAR GROUP with a short position of Alcoa. Check out your portfolio center. Please also check ongoing floating volatility patterns of INBAR GROUP and Alcoa.
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Comparative Performance

INBAR GROUP FIN  
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Risk-Adjusted Performance

Over the last 30 days INBAR GROUP FIN has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, INBAR GROUP is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Alcoa  
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Risk-Adjusted Performance

Over the last 30 days Alcoa Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in March 2020. The current disturbance may also be a sign of long term up-swing for the company investors.

INBAR GROUP and Alcoa Volatility Contrast

INBAR GROUP FIN  vs.  Alcoa Corp.

 Performance (%) 
    
  Timeline 

Pair Volatility

If you would invest (100.00)  in INBAR GROUP FIN on January 20, 2020 and sell it today you would earn a total of  100.00  from holding INBAR GROUP FIN or generate -100.0% return on investment over 30 days.

Pair Corralation between INBAR GROUP and Alcoa

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Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for INBAR GROUP and Alcoa

INBAR GROUP FIN diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding INBAR GROUP FIN and Alcoa Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Alcoa and INBAR GROUP 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 INBAR GROUP FIN are associated (or correlated) with Alcoa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alcoa has no effect on the direction of INBAR GROUP i.e. INBAR GROUP and Alcoa go up and down completely randomly.

INBAR GROUP FIN

Pair trading matchups for INBAR GROUP

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