Correlation Between Spark Networks and 36Kr Holdings
Can any of the company-specific risk be diversified away by investing in both Spark Networks and 36Kr Holdings 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 Spark Networks and 36Kr Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Spark Networks SE and 36Kr Holdings, you can compare the effects of market volatilities on Spark Networks and 36Kr Holdings 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 Spark Networks with a short position of 36Kr Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Spark Networks and 36Kr Holdings.
Diversification Opportunities for Spark Networks and 36Kr Holdings
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Spark and 36Kr is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Spark Networks SE and 36Kr Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 36Kr Holdings and Spark Networks 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 Spark Networks SE are associated (or correlated) with 36Kr Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 36Kr Holdings has no effect on the direction of Spark Networks i.e., Spark Networks and 36Kr Holdings go up and down completely randomly.
Pair Corralation between Spark Networks and 36Kr Holdings
If you would invest 1.30 in Spark Networks SE on December 29, 2023 and sell it today you would earn a total of 0.00 from holding Spark Networks SE or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 4.55% |
Values | Daily Returns |
Spark Networks SE vs. 36Kr Holdings
Performance |
Timeline |
Spark Networks SE |
Risk-Adjusted Performance
0 of 100
Low | High |
Very Weak
36Kr Holdings |
Spark Networks and 36Kr Holdings Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Spark Networks and 36Kr Holdings
The main advantage of trading using opposite Spark Networks and 36Kr Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Spark Networks position performs unexpectedly, 36Kr Holdings 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 36Kr Holdings will offset losses from the drop in 36Kr Holdings' long position.Spark Networks vs. Stagwell | Spark Networks vs. Cimpress NV | Spark Networks vs. Tscan Therapeutics | Spark Networks vs. Organic Sales And |
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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 Global Correlations module to find global opportunities by holding instruments from different markets.
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