Correlation Between Just Eat and Alfen Beheer

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

By analyzing existing cross correlation between Just Eat Takeaway and Alfen Beheer BV, you can compare the effects of market volatilities on Just Eat and Alfen Beheer 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 Just Eat with a short position of Alfen Beheer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Just Eat and Alfen Beheer.

Diversification Opportunities for Just Eat and Alfen Beheer

-0.27

Correlation Coefficient

Just Eat  Alfen Beheer

Very good diversification

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

Pair Corralation between Just Eat and Alfen Beheer

Assuming the 90 days trading horizon Just Eat Takeaway is expected to generate 0.11 times more return on investment than Alfen Beheer. However, Just Eat Takeaway is 9.34 times less risky than Alfen Beheer. It trades about 0.14 of its potential returns per unit of risk. Alfen Beheer BV is currently generating about -0.14 per unit of risk. If you would invest  1,929  in Just Eat Takeaway on May 6, 2025 and sell it today you would earn a total of  75.00  from holding Just Eat Takeaway or generate 3.89% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Just Eat Takeaway  vs.  Alfen Beheer BV

Just Eat Takeaway

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Just Eat Takeaway are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, Just Eat is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

Alfen Beheer BV

Risk-Adjusted Performance

Very Weak

Over the last 90 days Alfen Beheer BV has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in September 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with Just Eat and Alfen Beheer

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

The idea behind Just Eat Takeaway and Alfen Beheer BV 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.