Correlation Between Amicorp FS and Odyssean Investment
Can any of the company-specific risk be diversified away by investing in both Amicorp FS and Odyssean Investment 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 Amicorp FS and Odyssean Investment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amicorp FS PLC and Odyssean Investment Trust, you can compare the effects of market volatilities on Amicorp FS and Odyssean Investment 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 Amicorp FS with a short position of Odyssean Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amicorp FS and Odyssean Investment.
Diversification Opportunities for Amicorp FS and Odyssean Investment
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Amicorp and Odyssean is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Amicorp FS PLC and Odyssean Investment Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Odyssean Investment Trust and Amicorp FS 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 Amicorp FS PLC are associated (or correlated) with Odyssean Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Odyssean Investment Trust has no effect on the direction of Amicorp FS i.e., Amicorp FS and Odyssean Investment go up and down completely randomly.
Pair Corralation between Amicorp FS and Odyssean Investment
Assuming the 90 days trading horizon Amicorp FS is expected to generate 13.4 times less return on investment than Odyssean Investment. But when comparing it to its historical volatility, Amicorp FS PLC is 14.66 times less risky than Odyssean Investment. It trades about 0.12 of its potential returns per unit of risk. Odyssean Investment Trust is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 15,350 in Odyssean Investment Trust on August 28, 2025 and sell it today you would earn a total of 1,225 from holding Odyssean Investment Trust or generate 7.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amicorp FS PLC vs. Odyssean Investment Trust
Performance |
| Timeline |
| Amicorp FS PLC |
| Odyssean Investment Trust |
Amicorp FS and Odyssean Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amicorp FS and Odyssean Investment
The main advantage of trading using opposite Amicorp FS and Odyssean Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amicorp FS position performs unexpectedly, Odyssean Investment 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 Odyssean Investment will offset losses from the drop in Odyssean Investment's long position.| Amicorp FS vs. Cars Inc | Amicorp FS vs. HCA Healthcare | Amicorp FS vs. CVS Health Corp | Amicorp FS vs. Ecclesiastical Insurance Office |
| Odyssean Investment vs. CVS Health Corp | Odyssean Investment vs. OptiBiotix Health Plc | Odyssean Investment vs. One Health Group | Odyssean Investment vs. Travel Leisure Co |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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