Correlation Between Atlanticus Holdings and Pioneer Bancorp
Can any of the company-specific risk be diversified away by investing in both Atlanticus Holdings and Pioneer Bancorp 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 Atlanticus Holdings and Pioneer Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atlanticus Holdings and Pioneer Bancorp, you can compare the effects of market volatilities on Atlanticus Holdings and Pioneer Bancorp 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 Atlanticus Holdings with a short position of Pioneer Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlanticus Holdings and Pioneer Bancorp.
Diversification Opportunities for Atlanticus Holdings and Pioneer Bancorp
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Atlanticus and Pioneer is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Atlanticus Holdings and Pioneer Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pioneer Bancorp and Atlanticus Holdings 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 Atlanticus Holdings are associated (or correlated) with Pioneer Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pioneer Bancorp has no effect on the direction of Atlanticus Holdings i.e., Atlanticus Holdings and Pioneer Bancorp go up and down completely randomly.
Pair Corralation between Atlanticus Holdings and Pioneer Bancorp
Given the investment horizon of 90 days Atlanticus Holdings is expected to generate 2.15 times more return on investment than Pioneer Bancorp. However, Atlanticus Holdings is 2.15 times more volatile than Pioneer Bancorp. It trades about 0.14 of its potential returns per unit of risk. Pioneer Bancorp is currently generating about 0.02 per unit of risk. If you would invest 5,476 in Atlanticus Holdings on October 10, 2025 and sell it today you would earn a total of 1,373 from holding Atlanticus Holdings or generate 25.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.39% |
| Values | Daily Returns |
Atlanticus Holdings vs. Pioneer Bancorp
Performance |
| Timeline |
| Atlanticus Holdings |
| Pioneer Bancorp |
Atlanticus Holdings and Pioneer Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atlanticus Holdings and Pioneer Bancorp
The main advantage of trading using opposite Atlanticus Holdings and Pioneer Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlanticus Holdings position performs unexpectedly, Pioneer Bancorp 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 Pioneer Bancorp will offset losses from the drop in Pioneer Bancorp's long position.| Atlanticus Holdings vs. Lexinfintech Holdings | Atlanticus Holdings vs. Barings BDC | Atlanticus Holdings vs. World Acceptance | Atlanticus Holdings vs. Nerdwallet |
| Pioneer Bancorp vs. Orange County Bancorp | Pioneer Bancorp vs. Ponce Financial Group | Pioneer Bancorp vs. RBB Bancorp | Pioneer Bancorp vs. MVB Financial 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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