Correlation Between Click Holdings and Concorde International
Can any of the company-specific risk be diversified away by investing in both Click Holdings and Concorde 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 Click Holdings and Concorde International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Click Holdings Limited and Concorde International Group, you can compare the effects of market volatilities on Click Holdings and Concorde 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 Click Holdings with a short position of Concorde International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Click Holdings and Concorde International.
Diversification Opportunities for Click Holdings and Concorde International
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Click and Concorde is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Click Holdings Limited and Concorde International Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Concorde International and Click 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 Click Holdings Limited are associated (or correlated) with Concorde International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Concorde International has no effect on the direction of Click Holdings i.e., Click Holdings and Concorde International go up and down completely randomly.
Pair Corralation between Click Holdings and Concorde International
Given the investment horizon of 90 days Click Holdings Limited is expected to under-perform the Concorde International. But the stock apears to be less risky and, when comparing its historical volatility, Click Holdings Limited is 1.67 times less risky than Concorde International. The stock trades about -0.02 of its potential returns per unit of risk. The Concorde International Group is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 169.00 in Concorde International Group on August 26, 2025 and sell it today you would earn a total of 4.00 from holding Concorde International Group or generate 2.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Click Holdings Limited vs. Concorde International Group
Performance |
| Timeline |
| Click Holdings |
| Concorde International |
Click Holdings and Concorde International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Click Holdings and Concorde International
The main advantage of trading using opposite Click Holdings and Concorde International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Click Holdings position performs unexpectedly, Concorde 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 Concorde International will offset losses from the drop in Concorde International's long position.| Click Holdings vs. Western Asset Investment | Click Holdings vs. Southwest Airlines | Click Holdings vs. SM Investments | Click Holdings vs. Equal Trading |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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