Correlation Between LABOCANNA and Continental Aktiengesellscha
Can any of the company-specific risk be diversified away by investing in both LABOCANNA and Continental Aktiengesellscha 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 LABOCANNA and Continental Aktiengesellscha into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LABOCANNA SA ZY 10 and Continental Aktiengesellschaft, you can compare the effects of market volatilities on LABOCANNA and Continental Aktiengesellscha 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 LABOCANNA with a short position of Continental Aktiengesellscha. Check out your portfolio center. Please also check ongoing floating volatility patterns of LABOCANNA and Continental Aktiengesellscha.
Diversification Opportunities for LABOCANNA and Continental Aktiengesellscha
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between LABOCANNA and Continental is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding LABOCANNA SA ZY 10 and Continental Aktiengesellschaft in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Continental Aktiengesellscha and LABOCANNA 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 LABOCANNA SA ZY 10 are associated (or correlated) with Continental Aktiengesellscha. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Continental Aktiengesellscha has no effect on the direction of LABOCANNA i.e., LABOCANNA and Continental Aktiengesellscha go up and down completely randomly.
Pair Corralation between LABOCANNA and Continental Aktiengesellscha
Assuming the 90 days horizon LABOCANNA SA ZY 10 is expected to under-perform the Continental Aktiengesellscha. In addition to that, LABOCANNA is 1.19 times more volatile than Continental Aktiengesellschaft. It trades about -0.17 of its total potential returns per unit of risk. Continental Aktiengesellschaft is currently generating about 0.1 per unit of volatility. If you would invest 5,772 in Continental Aktiengesellschaft on September 1, 2025 and sell it today you would earn a total of 682.00 from holding Continental Aktiengesellschaft or generate 11.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
LABOCANNA SA ZY 10 vs. Continental Aktiengesellschaft
Performance |
| Timeline |
| LABOCANNA SA ZY |
| Continental Aktiengesellscha |
LABOCANNA and Continental Aktiengesellscha Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LABOCANNA and Continental Aktiengesellscha
The main advantage of trading using opposite LABOCANNA and Continental Aktiengesellscha positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LABOCANNA position performs unexpectedly, Continental Aktiengesellscha 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 Continental Aktiengesellscha will offset losses from the drop in Continental Aktiengesellscha's long position.| LABOCANNA vs. SHIP HEALTHCARE HLDGINC | LABOCANNA vs. EBRO FOODS | LABOCANNA vs. HIGH QUALITY FOOD | LABOCANNA vs. Ebro Foods SA |
| Continental Aktiengesellscha vs. PLAYTIKA HOLDING DL 01 | Continental Aktiengesellscha vs. CN DATANG C | Continental Aktiengesellscha vs. KOOL2PLAY SA ZY | Continental Aktiengesellscha vs. ARISTOCRAT LEISURE |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |