Correlation Between AGF Management and United Internet
Can any of the company-specific risk be diversified away by investing in both AGF Management and United Internet 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 AGF Management and United Internet into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AGF Management Limited and United Internet AG, you can compare the effects of market volatilities on AGF Management and United Internet 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 AGF Management with a short position of United Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGF Management and United Internet.
Diversification Opportunities for AGF Management and United Internet
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AGF and United is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding AGF Management Limited and United Internet AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on United Internet AG and AGF Management 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 AGF Management Limited are associated (or correlated) with United Internet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United Internet AG has no effect on the direction of AGF Management i.e., AGF Management and United Internet go up and down completely randomly.
Pair Corralation between AGF Management and United Internet
Assuming the 90 days horizon AGF Management Limited is expected to generate 1.39 times more return on investment than United Internet. However, AGF Management is 1.39 times more volatile than United Internet AG. It trades about -0.01 of its potential returns per unit of risk. United Internet AG is currently generating about -0.02 per unit of risk. If you would invest 837.00 in AGF Management Limited on July 20, 2025 and sell it today you would lose (7.00) from holding AGF Management Limited or give up 0.84% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
AGF Management Limited vs. United Internet AG
Performance |
| Timeline |
| AGF Management |
| United Internet AG |
AGF Management and United Internet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGF Management and United Internet
The main advantage of trading using opposite AGF Management and United Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGF Management position performs unexpectedly, United Internet 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 United Internet will offset losses from the drop in United Internet's long position.| AGF Management vs. Blackstone Group | AGF Management vs. The Bank of | AGF Management vs. State Street | AGF Management vs. EQT AB |
| United Internet vs. KINGBOARD CHEMICAL | United Internet vs. ecotel communication ag | United Internet vs. T Mobile | United Internet vs. Mitsui Chemicals |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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