Correlation Between ATT and SmarTone Telecommunicatio
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By analyzing existing cross correlation between ATT Inc and SmarTone Telecommunications Holdings, you can compare the effects of market volatilities on ATT and SmarTone Telecommunicatio 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 ATT with a short position of SmarTone Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATT and SmarTone Telecommunicatio.
Diversification Opportunities for ATT and SmarTone Telecommunicatio
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between ATT and SmarTone is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and SmarTone Telecommunications Ho in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SmarTone Telecommunicatio and ATT 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 ATT Inc are associated (or correlated) with SmarTone Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SmarTone Telecommunicatio has no effect on the direction of ATT i.e., ATT and SmarTone Telecommunicatio go up and down completely randomly.
Pair Corralation between ATT and SmarTone Telecommunicatio
Assuming the 90 days trading horizon ATT Inc is expected to under-perform the SmarTone Telecommunicatio. In addition to that, ATT is 1.3 times more volatile than SmarTone Telecommunications Holdings. It trades about -0.1 of its total potential returns per unit of risk. SmarTone Telecommunications Holdings is currently generating about 0.12 per unit of volatility. If you would invest 48.00 in SmarTone Telecommunications Holdings on September 1, 2025 and sell it today you would earn a total of 4.00 from holding SmarTone Telecommunications Holdings or generate 8.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ATT Inc vs. SmarTone Telecommunications Ho
Performance |
| Timeline |
| ATT Inc |
| SmarTone Telecommunicatio |
ATT and SmarTone Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATT and SmarTone Telecommunicatio
The main advantage of trading using opposite ATT and SmarTone Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATT position performs unexpectedly, SmarTone Telecommunicatio 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 SmarTone Telecommunicatio will offset losses from the drop in SmarTone Telecommunicatio's long position.| ATT vs. Harmony Gold Mining | ATT vs. Chalice Mining Limited | ATT vs. Perseus Mining Limited | ATT vs. Aluminum of |
| SmarTone Telecommunicatio vs. SBM OFFSHORE | SmarTone Telecommunicatio vs. INDOFOOD AGRI RES | SmarTone Telecommunicatio vs. DaChan Food Limited | SmarTone Telecommunicatio vs. United Natural Foods |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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