Correlation Between Astronics and Cadeler AS
Can any of the company-specific risk be diversified away by investing in both Astronics and Cadeler AS 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 Astronics and Cadeler AS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Astronics and Cadeler AS, you can compare the effects of market volatilities on Astronics and Cadeler AS 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 Astronics with a short position of Cadeler AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astronics and Cadeler AS.
Diversification Opportunities for Astronics and Cadeler AS
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Astronics and Cadeler is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Astronics and Cadeler AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cadeler AS and Astronics 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 Astronics are associated (or correlated) with Cadeler AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cadeler AS has no effect on the direction of Astronics i.e., Astronics and Cadeler AS go up and down completely randomly.
Pair Corralation between Astronics and Cadeler AS
Given the investment horizon of 90 days Astronics is expected to generate 1.44 times more return on investment than Cadeler AS. However, Astronics is 1.44 times more volatile than Cadeler AS. It trades about 0.19 of its potential returns per unit of risk. Cadeler AS is currently generating about -0.1 per unit of risk. If you would invest 3,425 in Astronics on August 13, 2025 and sell it today you would earn a total of 1,358 from holding Astronics or generate 39.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Astronics vs. Cadeler AS
Performance |
| Timeline |
| Astronics |
| Cadeler AS |
Astronics and Cadeler AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astronics and Cadeler AS
The main advantage of trading using opposite Astronics and Cadeler AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astronics position performs unexpectedly, Cadeler AS 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 Cadeler AS will offset losses from the drop in Cadeler AS's long position.| Astronics vs. Cadre Holdings | Astronics vs. Voyager Technologies, | Astronics vs. V2X Inc | Astronics vs. Ducommun Incorporated |
| Cadeler AS vs. Costamare | Cadeler AS vs. Navios Maritime Partners | Cadeler AS vs. Danaos | Cadeler AS vs. CMBTECH NV |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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