Correlation Between DynaCERT and Agfa Gevaert
Can any of the company-specific risk be diversified away by investing in both DynaCERT and Agfa Gevaert 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 DynaCERT and Agfa Gevaert into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between dynaCERT and Agfa Gevaert NV, you can compare the effects of market volatilities on DynaCERT and Agfa Gevaert 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 DynaCERT with a short position of Agfa Gevaert. Check out your portfolio center. Please also check ongoing floating volatility patterns of DynaCERT and Agfa Gevaert.
Diversification Opportunities for DynaCERT and Agfa Gevaert
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between DynaCERT and Agfa is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding dynaCERT and Agfa Gevaert NV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agfa Gevaert NV and DynaCERT 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 dynaCERT are associated (or correlated) with Agfa Gevaert. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agfa Gevaert NV has no effect on the direction of DynaCERT i.e., DynaCERT and Agfa Gevaert go up and down completely randomly.
Pair Corralation between DynaCERT and Agfa Gevaert
Assuming the 90 days horizon dynaCERT is expected to generate 2.63 times more return on investment than Agfa Gevaert. However, DynaCERT is 2.63 times more volatile than Agfa Gevaert NV. It trades about -0.02 of its potential returns per unit of risk. Agfa Gevaert NV is currently generating about -0.15 per unit of risk. If you would invest 9.00 in dynaCERT on August 19, 2025 and sell it today you would lose (1.00) from holding dynaCERT or give up 11.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
dynaCERT vs. Agfa Gevaert NV
Performance |
| Timeline |
| dynaCERT |
| Agfa Gevaert NV |
DynaCERT and Agfa Gevaert Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DynaCERT and Agfa Gevaert
The main advantage of trading using opposite DynaCERT and Agfa Gevaert positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DynaCERT position performs unexpectedly, Agfa Gevaert 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 Agfa Gevaert will offset losses from the drop in Agfa Gevaert's long position.| DynaCERT vs. Agfa Gevaert NV | DynaCERT vs. Vow ASA | DynaCERT vs. Aquarius Engines | DynaCERT vs. Global Crossing Airlines |
| Agfa Gevaert vs. Cirmaker Technology | Agfa Gevaert vs. dynaCERT | Agfa Gevaert vs. Vow ASA | Agfa Gevaert vs. Lead Innovation 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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