Correlation Between Clearfield and Logitech International
Can any of the company-specific risk be diversified away by investing in both Clearfield and Logitech International 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 Clearfield and Logitech International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Clearfield and Logitech International SA, you can compare the effects of market volatilities on Clearfield and Logitech International 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 Clearfield with a short position of Logitech International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clearfield and Logitech International.
Diversification Opportunities for Clearfield and Logitech International
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Clearfield and Logitech is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Clearfield and Logitech International SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logitech International and Clearfield 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 Clearfield are associated (or correlated) with Logitech International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logitech International has no effect on the direction of Clearfield i.e., Clearfield and Logitech International go up and down completely randomly.
Pair Corralation between Clearfield and Logitech International
Given the investment horizon of 90 days Clearfield is expected to generate 1.32 times less return on investment than Logitech International. In addition to that, Clearfield is 1.39 times more volatile than Logitech International SA. It trades about 0.02 of its total potential returns per unit of risk. Logitech International SA is currently generating about 0.03 per unit of volatility. If you would invest 8,516 in Logitech International SA on May 24, 2025 and sell it today you would earn a total of 1,781 from holding Logitech International SA or generate 20.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.73% |
| Values | Daily Returns |
Clearfield vs. Logitech International SA
Performance |
| Timeline |
| Clearfield |
| Logitech International |
Clearfield and Logitech International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Clearfield and Logitech International
The main advantage of trading using opposite Clearfield and Logitech International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Clearfield position performs unexpectedly, Logitech International 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 Logitech International will offset losses from the drop in Logitech International's long position.| Clearfield vs. Digi International | Clearfield vs. Extreme Networks | Clearfield vs. Ciena Corp | Clearfield vs. Harmonic |
| Logitech International vs. Chegg Inc | Logitech International vs. Corsair Gaming | Logitech International vs. Dell Technologies | Logitech International vs. NetApp Inc |
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 AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Stocks Directory Find actively traded stocks across global markets | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |