Correlation Between American Bank and Amacore
Can any of the company-specific risk be diversified away by investing in both American Bank and Amacore 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 American Bank and Amacore into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between American Bank Note and The Amacore Group, you can compare the effects of market volatilities on American Bank and Amacore 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 American Bank with a short position of Amacore. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Bank and Amacore.
Diversification Opportunities for American Bank and Amacore
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between American and Amacore is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding American Bank Note and The Amacore Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amacore Group and American Bank 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 American Bank Note are associated (or correlated) with Amacore. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amacore Group has no effect on the direction of American Bank i.e., American Bank and Amacore go up and down completely randomly.
Pair Corralation between American Bank and Amacore
If you would invest 0.01 in The Amacore Group on January 24, 2024 and sell it today you would earn a total of 0.00 from holding The Amacore Group or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
American Bank Note vs. The Amacore Group
Performance |
Timeline |
American Bank Note |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Amacore Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
American Bank and Amacore Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with American Bank and Amacore
The main advantage of trading using opposite American Bank and Amacore positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Bank position performs unexpectedly, Amacore 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 Amacore will offset losses from the drop in Amacore's long position.American Bank vs. Torm PLC Class | American Bank vs. Pinterest | American Bank vs. Sphere Entertainment Co | American Bank vs. Coty Inc |
Amacore vs. Pharmacom Biovet | Amacore vs. Healthcare Solutions Management | Amacore vs. BodyScan Corp | Amacore vs. Novo Integrated Sciences |
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 CEOs Directory module to screen CEOs from public companies around the world.
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