Correlation Between Auna SA and Cross Country
Can any of the company-specific risk be diversified away by investing in both Auna SA and Cross Country 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 Auna SA and Cross Country into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Auna SA and Cross Country Healthcare, you can compare the effects of market volatilities on Auna SA and Cross Country 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 Auna SA with a short position of Cross Country. Check out your portfolio center. Please also check ongoing floating volatility patterns of Auna SA and Cross Country.
Diversification Opportunities for Auna SA and Cross Country
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Auna and Cross is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Auna SA and Cross Country Healthcare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cross Country Healthcare and Auna SA 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 Auna SA are associated (or correlated) with Cross Country. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cross Country Healthcare has no effect on the direction of Auna SA i.e., Auna SA and Cross Country go up and down completely randomly.
Pair Corralation between Auna SA and Cross Country
Given the investment horizon of 90 days Auna SA is expected to generate 0.45 times more return on investment than Cross Country. However, Auna SA is 2.23 times less risky than Cross Country. It trades about -0.17 of its potential returns per unit of risk. Cross Country Healthcare is currently generating about -0.17 per unit of risk. If you would invest 635.00 in Auna SA on September 8, 2025 and sell it today you would lose (138.00) from holding Auna SA or give up 21.73% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Auna SA vs. Cross Country Healthcare
Performance |
| Timeline |
| Auna SA |
| Cross Country Healthcare |
Auna SA and Cross Country Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Auna SA and Cross Country
The main advantage of trading using opposite Auna SA and Cross Country positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Auna SA position performs unexpectedly, Cross Country 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 Cross Country will offset losses from the drop in Cross Country's long position.| Auna SA vs. Luckin Coffee | Auna SA vs. World Houseware Limited | Auna SA vs. Broadstone Net Lease | Auna SA vs. First Ship Lease |
| Cross Country vs. ScanSource | Cross Country vs. Tsingtao Brewery | Cross Country vs. The Tinley Beverage | Cross Country vs. Hyatt Hotels |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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