Correlation Between PACIFIC ONLINE and LAir Liquide
Can any of the company-specific risk be diversified away by investing in both PACIFIC ONLINE and LAir Liquide 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 PACIFIC ONLINE and LAir Liquide into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PACIFIC ONLINE and LAir Liquide SA, you can compare the effects of market volatilities on PACIFIC ONLINE and LAir Liquide 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 PACIFIC ONLINE with a short position of LAir Liquide. Check out your portfolio center. Please also check ongoing floating volatility patterns of PACIFIC ONLINE and LAir Liquide.
Diversification Opportunities for PACIFIC ONLINE and LAir Liquide
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between PACIFIC and LAir is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PACIFIC ONLINE and LAir Liquide SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LAir Liquide SA and PACIFIC ONLINE 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 PACIFIC ONLINE are associated (or correlated) with LAir Liquide. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LAir Liquide SA has no effect on the direction of PACIFIC ONLINE i.e., PACIFIC ONLINE and LAir Liquide go up and down completely randomly.
Pair Corralation between PACIFIC ONLINE and LAir Liquide
If you would invest 17,188 in LAir Liquide SA on July 20, 2025 and sell it today you would earn a total of 104.00 from holding LAir Liquide SA or generate 0.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.48% |
| Values | Daily Returns |
PACIFIC ONLINE vs. LAir Liquide SA
Performance |
| Timeline |
| PACIFIC ONLINE |
| LAir Liquide SA |
PACIFIC ONLINE and LAir Liquide Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PACIFIC ONLINE and LAir Liquide
The main advantage of trading using opposite PACIFIC ONLINE and LAir Liquide positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PACIFIC ONLINE position performs unexpectedly, LAir Liquide 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 LAir Liquide will offset losses from the drop in LAir Liquide's long position.| PACIFIC ONLINE vs. Harmony Gold Mining | PACIFIC ONLINE vs. GRIFFIN MINING LTD | PACIFIC ONLINE vs. JSC Halyk bank | PACIFIC ONLINE vs. AOZORA BANK LTD |
| LAir Liquide vs. GRIFFIN MINING LTD | LAir Liquide vs. Yanzhou Coal Mining | LAir Liquide vs. Zoom Video Communications | LAir Liquide vs. COMTECH TELECOMM |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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