Correlation Between Prodways Group and Unitronix

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

By analyzing existing cross correlation between Prodways Group SA and Unitronix, you can compare the effects of market volatilities on Prodways Group and Unitronix 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 Prodways Group with a short position of Unitronix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Prodways Group and Unitronix.

Diversification Opportunities for Prodways Group and Unitronix

-0.68

Correlation Coefficient

Prodways Group  Unitronix

Excellent diversification

The 3 months correlation between Prodways and Unitronix is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Prodways Group SA and Unitronix in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unitronix and Prodways 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 Prodways Group SA are associated (or correlated) with Unitronix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Unitronix has no effect on the direction of Prodways Group i.e., Prodways Group and Unitronix go up and down completely randomly.

Pair Corralation between Prodways Group and Unitronix

Assuming the 90 days horizon Prodways Group SA is expected to generate 0.27 times more return on investment than Unitronix. However, Prodways Group SA is 3.68 times less risky than Unitronix. It trades about 0.07 of its potential returns per unit of risk. Unitronix is currently generating about -0.07 per unit of risk. If you would invest  60.00  in Prodways Group SA on September 5, 2025 and sell it today you would earn a total of  8.00  from holding Prodways Group SA or generate 13.33% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	98.44%
Values	Daily Returns

Prodways Group SA  vs.  Unitronix

Prodways Group SA

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Prodways Group SA are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Prodways Group reported solid returns over the last few months and may actually be approaching a breakup point.

Unitronix

Risk-Adjusted Performance

Weakest

Over the last 90 days Unitronix has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unfluctuating performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with Prodways Group and Unitronix

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

The idea behind Prodways Group SA and Unitronix 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.

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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.