Correlation Between Hapag-Lloyd Aktiengesellscha and SSC Technologies

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Hapag-Lloyd Aktiengesellscha and SSC Technologies 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 Hapag-Lloyd Aktiengesellscha and SSC Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hapag-Lloyd Aktiengesellschaft ADR and SSC Technologies, you can compare the effects of market volatilities on Hapag-Lloyd Aktiengesellscha and SSC Technologies 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 Hapag-Lloyd Aktiengesellscha with a short position of SSC Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hapag-Lloyd Aktiengesellscha and SSC Technologies.

Diversification Opportunities for Hapag-Lloyd Aktiengesellscha and SSC Technologies

-0.12
  Correlation Coefficient

Good diversification

The 3 months correlation between Hapag-Lloyd and SSC Technologies is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Hapag-Lloyd Aktiengesellschaft and SSC Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSC Technologies and Hapag-Lloyd Aktiengesellscha 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 Hapag-Lloyd Aktiengesellschaft ADR are associated (or correlated) with SSC Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSC Technologies has no effect on the direction of Hapag-Lloyd Aktiengesellscha i.e., Hapag-Lloyd Aktiengesellscha and SSC Technologies go up and down completely randomly.

Pair Corralation between Hapag-Lloyd Aktiengesellscha and SSC Technologies

Assuming the 90 days horizon Hapag-Lloyd Aktiengesellschaft ADR is expected to under-perform the SSC Technologies. In addition to that, Hapag-Lloyd Aktiengesellscha is 1.92 times more volatile than SSC Technologies. It trades about -0.21 of its total potential returns per unit of risk. SSC Technologies is currently generating about -0.1 per unit of volatility. If you would invest  6,454  in SSC Technologies on April 1, 2022 and sell it today you would lose (589.00)  from holding SSC Technologies or give up 9.13% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy97.56%
ValuesDaily Returns

Hapag-Lloyd Aktiengesellschaft  vs.  SSC Technologies

 Performance (%) 
      Timeline 
Hapag-Lloyd Aktiengesellscha 
Hapag-Lloyd Performance
0 of 100
Over the last 90 days Hapag-Lloyd Aktiengesellschaft ADR has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's essential indicators remain fairly strong which may send shares a bit higher in July 2022. The current disturbance may also be a sign of long term up-swing for the company investors.

Structure and Payout Changes

Forward Annual Dividend Yield
0.13
Payout Ratio
0.35
Last Split Factor
1006:1000
Forward Annual Dividend Rate
18.72
Dividend Date
2022-06-14
Ex Dividend Date
2022-05-26
Last Split Date
2020-06-08

Hapag-Lloyd Price Channel

SSC Technologies 
SSC Technologies Performance
0 of 100
Over the last 90 days SSC Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in July 2022. The current disturbance may also be a sign of long term up-swing for the company investors.

Structure and Payout Changes

Forward Annual Dividend Yield
0.0135
Payout Ratio
0.15
Last Split Factor
2:1
Forward Annual Dividend Rate
0.8
Dividend Date
2022-06-15
Ex Dividend Date
2022-05-31
Last Split Date
2016-06-27

SSC Technologies Price Channel

Hapag-Lloyd Aktiengesellscha and SSC Technologies Volatility Contrast

 Predicted Return Density 
      Returns 

Pair Trading with Hapag-Lloyd Aktiengesellscha and SSC Technologies

The main advantage of trading using opposite Hapag-Lloyd Aktiengesellscha and SSC Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hapag-Lloyd Aktiengesellscha position performs unexpectedly, SSC Technologies 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 SSC Technologies will offset losses from the drop in SSC Technologies' long position.

Hapag-Lloyd Aktiengesellschaft ADR

Pair trading matchups for Hapag-Lloyd Aktiengesellscha

The idea behind Hapag-Lloyd Aktiengesellschaft ADR and SSC Technologies pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

SSC Technologies

Pair trading matchups for SSC Technologies

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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.

Other Complementary Tools

Price Exposure Probability
Analyze equity upside and downside potential for a given time horizon across multiple markets
Go
Instant Ratings
Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance
Go
Performance Analysis
Check effects of mean-variance optimization against your current asset allocation
Go
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Go
Crypto Correlations
Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
Go
My Watchlist Analysis
Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like
Go
Fundamental Analysis
View fundamental data based on most recent published financial statements
Go
Commodity Channel Index
Use Commodity Channel Index to analyze current equity momentum
Go
Cryptocurrency Center
Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency
Go
Money Managers
Screen money managers from public funds and ETFs managed around the world
Go
Balance Of Power
Check stock momentum by analyzing Balance Of Power indicator and other technical ratios
Go