Correlation Between Netel Holding and Raketech Group
Can any of the company-specific risk be diversified away by investing in both Netel Holding and Raketech Group 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 Netel Holding and Raketech Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Netel Holding AB and Raketech Group Holding, you can compare the effects of market volatilities on Netel Holding and Raketech Group 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 Netel Holding with a short position of Raketech Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Netel Holding and Raketech Group.
Diversification Opportunities for Netel Holding and Raketech Group
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Netel and Raketech is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Netel Holding AB and Raketech Group Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Raketech Group Holding and Netel Holding 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 Netel Holding AB are associated (or correlated) with Raketech Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Raketech Group Holding has no effect on the direction of Netel Holding i.e., Netel Holding and Raketech Group go up and down completely randomly.
Pair Corralation between Netel Holding and Raketech Group
Assuming the 90 days trading horizon Netel Holding AB is expected to generate 1.85 times more return on investment than Raketech Group. However, Netel Holding is 1.85 times more volatile than Raketech Group Holding. It trades about 0.04 of its potential returns per unit of risk. Raketech Group Holding is currently generating about -0.06 per unit of risk. If you would invest 374.00 in Netel Holding AB on November 21, 2025 and sell it today you would earn a total of 16.00 from holding Netel Holding AB or generate 4.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Netel Holding AB vs. Raketech Group Holding
Performance |
| Timeline |
| Netel Holding AB |
| Raketech Group Holding |
Netel Holding and Raketech Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Netel Holding and Raketech Group
The main advantage of trading using opposite Netel Holding and Raketech Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Netel Holding position performs unexpectedly, Raketech Group 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 Raketech Group will offset losses from the drop in Raketech Group's long position.| Netel Holding vs. TalkPool AG | Netel Holding vs. Eniro AB | Netel Holding vs. Moment Group AB | Netel Holding vs. Transtema Group AB |
| Raketech Group vs. TalkPool AG | Raketech Group vs. Moment Group AB | Raketech Group vs. Mavshack publ AB | Raketech Group vs. Tourn International AB |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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