Correlation Between Atos SE and Gartner
Can any of the company-specific risk be diversified away by investing in both Atos SE and Gartner 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 Atos SE and Gartner into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atos SE and Gartner, you can compare the effects of market volatilities on Atos SE and Gartner 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 Atos SE with a short position of Gartner. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atos SE and Gartner.
Diversification Opportunities for Atos SE and Gartner
Average diversification
The 3 months correlation between Atos and Gartner is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Atos SE and Gartner in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gartner and Atos 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 Atos SE are associated (or correlated) with Gartner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gartner has no effect on the direction of Atos SE i.e., Atos SE and Gartner go up and down completely randomly.
Pair Corralation between Atos SE and Gartner
Assuming the 90 days horizon Atos SE is expected to generate 102.05 times more return on investment than Gartner. However, Atos SE is 102.05 times more volatile than Gartner. It trades about 0.19 of its potential returns per unit of risk. Gartner is currently generating about -0.07 per unit of risk. If you would invest 4,800 in Atos SE on March 14, 2025 and sell it today you would lose (540.00) from holding Atos SE or give up 11.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.88% |
| Values | Daily Returns |
Atos SE vs. Gartner
Performance |
| Timeline |
| Atos SE |
| Gartner |
Atos SE and Gartner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atos SE and Gartner
The main advantage of trading using opposite Atos SE and Gartner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atos SE position performs unexpectedly, Gartner 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 Gartner will offset losses from the drop in Gartner's long position.| Atos SE vs. Deveron Corp | Atos SE vs. Appen Limited | Atos SE vs. Atos Origin SA | Atos SE vs. Appen Limited |
| Gartner vs. Science Applications International | Gartner vs. Leidos Holdings | Gartner vs. ExlService Holdings | Gartner vs. Parsons Corp |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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