Correlation Between Hellenic Telecommunicatio and Alpha Trust

Can any of the company-specific risk be diversified away by investing in both Hellenic Telecommunicatio and Alpha Trust 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 Hellenic Telecommunicatio and Alpha Trust into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Hellenic Telecommunications Organization and Alpha Trust Andromeda, you can compare the effects of market volatilities on Hellenic Telecommunicatio and Alpha Trust 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 Hellenic Telecommunicatio with a short position of Alpha Trust. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hellenic Telecommunicatio and Alpha Trust.

Diversification Opportunities for Hellenic Telecommunicatio and Alpha Trust

0.27

Correlation Coefficient

Hellenic Telecommunicatio  Alpha Trust

Modest diversification

The 3 months correlation between Hellenic and Alpha is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Hellenic Telecommunications Or and Alpha Trust Andromeda in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alpha Trust Andromeda and Hellenic Telecommunicatio 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 Hellenic Telecommunications Organization are associated (or correlated) with Alpha Trust. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alpha Trust Andromeda has no effect on the direction of Hellenic Telecommunicatio i.e., Hellenic Telecommunicatio and Alpha Trust go up and down completely randomly.

Pair Corralation between Hellenic Telecommunicatio and Alpha Trust

If you would invest (100.00) in Alpha Trust Andromeda on July 17, 2025 and sell it today you would earn a total of  100.00  from holding Alpha Trust Andromeda or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	0.0%
Values	Daily Returns

Hellenic Telecommunications Or  vs.  Alpha Trust Andromeda

Hellenic Telecommunicatio

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Hellenic Telecommunications Organization are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, Hellenic Telecommunicatio is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

Alpha Trust Andromeda

Risk-Adjusted Performance

Solid

Over the last 90 days Alpha Trust Andromeda has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, Alpha Trust sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Hellenic Telecommunicatio and Alpha Trust

The main advantage of trading using opposite Hellenic Telecommunicatio and Alpha Trust positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hellenic Telecommunicatio position performs unexpectedly, Alpha Trust 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 Alpha Trust will offset losses from the drop in Alpha Trust's long position.

The idea behind Hellenic Telecommunications Organization and Alpha Trust Andromeda pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.