Correlation Between Suncorp Technologies and Agfa Gevaert
Can any of the company-specific risk be diversified away by investing in both Suncorp Technologies 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 Suncorp Technologies and Agfa Gevaert into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Suncorp Technologies Limited and Agfa Gevaert NV, you can compare the effects of market volatilities on Suncorp Technologies 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 Suncorp Technologies with a short position of Agfa Gevaert. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suncorp Technologies and Agfa Gevaert.
Diversification Opportunities for Suncorp Technologies and Agfa Gevaert
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Suncorp and Agfa is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Suncorp Technologies Limited 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 Suncorp Technologies 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 Suncorp Technologies Limited 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 Suncorp Technologies i.e., Suncorp Technologies and Agfa Gevaert go up and down completely randomly.
Pair Corralation between Suncorp Technologies and Agfa Gevaert
If you would invest 0.07 in Suncorp Technologies Limited on August 19, 2025 and sell it today you would earn a total of 0.00 from holding Suncorp Technologies Limited or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.46% |
| Values | Daily Returns |
Suncorp Technologies Limited vs. Agfa Gevaert NV
Performance |
| Timeline |
| Suncorp Technologies |
| Agfa Gevaert NV |
Suncorp Technologies and Agfa Gevaert Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suncorp Technologies and Agfa Gevaert
The main advantage of trading using opposite Suncorp Technologies and Agfa Gevaert positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suncorp Technologies 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.| Suncorp Technologies vs. Genoil Inc | Suncorp Technologies vs. Cibl Inc | Suncorp Technologies vs. World Houseware Limited | Suncorp Technologies vs. Toho Titanium Co |
| 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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