Correlation Between Uniper SE and Chrysalis Investments
Can any of the company-specific risk be diversified away by investing in both Uniper SE and Chrysalis Investments 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 Uniper SE and Chrysalis Investments into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Uniper SE and Chrysalis Investments, you can compare the effects of market volatilities on Uniper SE and Chrysalis Investments 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 Uniper SE with a short position of Chrysalis Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Uniper SE and Chrysalis Investments.
Diversification Opportunities for Uniper SE and Chrysalis Investments
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Uniper and Chrysalis is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Uniper SE and Chrysalis Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chrysalis Investments and Uniper SE 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 Uniper SE are associated (or correlated) with Chrysalis Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chrysalis Investments has no effect on the direction of Uniper SE i.e., Uniper SE and Chrysalis Investments go up and down completely randomly.
Pair Corralation between Uniper SE and Chrysalis Investments
Assuming the 90 days trading horizon Uniper SE is expected to under-perform the Chrysalis Investments. But the stock apears to be less risky and, when comparing its historical volatility, Uniper SE is 1.11 times less risky than Chrysalis Investments. The stock trades about -0.2 of its potential returns per unit of risk. The Chrysalis Investments is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 12,000 in Chrysalis Investments on August 20, 2025 and sell it today you would lose (660.00) from holding Chrysalis Investments or give up 5.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Uniper SE vs. Chrysalis Investments
Performance |
| Timeline |
| Uniper SE |
| Chrysalis Investments |
Uniper SE and Chrysalis Investments Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Uniper SE and Chrysalis Investments
The main advantage of trading using opposite Uniper SE and Chrysalis Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Uniper SE position performs unexpectedly, Chrysalis Investments 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 Chrysalis Investments will offset losses from the drop in Chrysalis Investments' long position.| Uniper SE vs. Fortuna Silver Mines | Uniper SE vs. Pan American Silver | Uniper SE vs. Eastinco Mining Exploration | Uniper SE vs. Griffin Mining |
| Chrysalis Investments vs. Home Depot | Chrysalis Investments vs. Atalaya Mining | Chrysalis Investments vs. Pets at Home | Chrysalis Investments vs. Greenroc Mining PLC |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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