Correlation Between Shionogi and Cresud SACIF
Can any of the company-specific risk be diversified away by investing in both Shionogi and Cresud SACIF 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 Shionogi and Cresud SACIF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Shionogi Co and Cresud SACIF y, you can compare the effects of market volatilities on Shionogi and Cresud SACIF 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 Shionogi with a short position of Cresud SACIF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shionogi and Cresud SACIF.
Diversification Opportunities for Shionogi and Cresud SACIF
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Shionogi and Cresud is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Shionogi Co and Cresud SACIF y in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cresud SACIF y and Shionogi 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 Shionogi Co are associated (or correlated) with Cresud SACIF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cresud SACIF y has no effect on the direction of Shionogi i.e., Shionogi and Cresud SACIF go up and down completely randomly.
Pair Corralation between Shionogi and Cresud SACIF
Assuming the 90 days horizon Shionogi Co is expected to generate 1.14 times more return on investment than Cresud SACIF. However, Shionogi is 1.14 times more volatile than Cresud SACIF y. It trades about -0.02 of its potential returns per unit of risk. Cresud SACIF y is currently generating about -0.05 per unit of risk. If you would invest 1,552 in Shionogi Co on July 17, 2025 and sell it today you would lose (127.00) from holding Shionogi Co or give up 8.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shionogi Co vs. Cresud SACIF y
Performance |
| Timeline |
| Shionogi |
| Cresud SACIF y |
Shionogi and Cresud SACIF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shionogi and Cresud SACIF
The main advantage of trading using opposite Shionogi and Cresud SACIF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shionogi position performs unexpectedly, Cresud SACIF 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 Cresud SACIF will offset losses from the drop in Cresud SACIF's long position.| Shionogi vs. Shionogi Co Ltd | Shionogi vs. Dynavax Technologies | Shionogi vs. Curaleaf Holdings | Shionogi vs. Daiichi Sankyo |
| Cresud SACIF vs. Brookfield Business Partners | Cresud SACIF vs. Compass Diversified Holdings | Cresud SACIF vs. Cresud SACIF y | Cresud SACIF vs. IRSA Inversiones Y |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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