Correlation Between FreelanceCom and Groupe CRIT
Can any of the company-specific risk be diversified away by investing in both FreelanceCom and Groupe CRIT 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 FreelanceCom and Groupe CRIT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FreelanceCom and Groupe CRIT SA, you can compare the effects of market volatilities on FreelanceCom and Groupe CRIT 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 FreelanceCom with a short position of Groupe CRIT. Check out your portfolio center. Please also check ongoing floating volatility patterns of FreelanceCom and Groupe CRIT.
Diversification Opportunities for FreelanceCom and Groupe CRIT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FreelanceCom and Groupe is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FreelanceCom and Groupe CRIT SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupe CRIT SA and FreelanceCom 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 FreelanceCom are associated (or correlated) with Groupe CRIT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupe CRIT SA has no effect on the direction of FreelanceCom i.e., FreelanceCom and Groupe CRIT go up and down completely randomly.
Pair Corralation between FreelanceCom and Groupe CRIT
If you would invest 0.00 in Groupe CRIT SA on January 26, 2024 and sell it today you would earn a total of 0.00 from holding Groupe CRIT SA 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 |
FreelanceCom vs. Groupe CRIT SA
Performance |
| Timeline |
| FreelanceCom |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Groupe CRIT SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
FreelanceCom and Groupe CRIT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FreelanceCom and Groupe CRIT
The main advantage of trading using opposite FreelanceCom and Groupe CRIT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FreelanceCom position performs unexpectedly, Groupe CRIT 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 Groupe CRIT will offset losses from the drop in Groupe CRIT's long position.| FreelanceCom vs. Claranova SE | FreelanceCom vs. SA Catana Group | FreelanceCom vs. Mediantechn | FreelanceCom vs. Groupe LDLC SA |
| Groupe CRIT vs. Alten SA | Groupe CRIT vs. Manitou BF SA | Groupe CRIT vs. Linedata Services SA | Groupe CRIT vs. Aubay Socit Anonyme |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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