Correlation Between Groupama Entreprises and Swedbank Robur
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By analyzing existing cross correlation between Groupama Entreprises N and Swedbank Robur Corporate, you can compare the effects of market volatilities on Groupama Entreprises and Swedbank Robur 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 Groupama Entreprises with a short position of Swedbank Robur. Check out your portfolio center. Please also check ongoing floating volatility patterns of Groupama Entreprises and Swedbank Robur.
Diversification Opportunities for Groupama Entreprises and Swedbank Robur
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Groupama and Swedbank is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Groupama Entreprises N and Swedbank Robur Corporate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Swedbank Robur Corporate and Groupama Entreprises 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 Groupama Entreprises N are associated (or correlated) with Swedbank Robur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Swedbank Robur Corporate has no effect on the direction of Groupama Entreprises i.e., Groupama Entreprises and Swedbank Robur go up and down completely randomly.
Pair Corralation between Groupama Entreprises and Swedbank Robur
Assuming the 90 days trading horizon Groupama Entreprises is expected to generate 2.63 times less return on investment than Swedbank Robur. But when comparing it to its historical volatility, Groupama Entreprises N is 13.53 times less risky than Swedbank Robur. It trades about 0.97 of its potential returns per unit of risk. Swedbank Robur Corporate is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 889.00 in Swedbank Robur Corporate on September 14, 2024 and sell it today you would earn a total of 97.00 from holding Swedbank Robur Corporate or generate 10.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.63% |
| Values | Daily Returns |
Groupama Entreprises N vs. Swedbank Robur Corporate
Performance |
| Timeline |
| Groupama Entreprises |
| Swedbank Robur Corporate |
Groupama Entreprises and Swedbank Robur Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Groupama Entreprises and Swedbank Robur
The main advantage of trading using opposite Groupama Entreprises and Swedbank Robur positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Groupama Entreprises position performs unexpectedly, Swedbank Robur 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 Swedbank Robur will offset losses from the drop in Swedbank Robur's long position.| Groupama Entreprises vs. Esfera Robotics R | Groupama Entreprises vs. R co Valor F | Groupama Entreprises vs. CM AM Monplus NE | Groupama Entreprises vs. IE00B0H4TS55 |
| Swedbank Robur vs. Groupama Entreprises N | Swedbank Robur vs. Renaissance Europe C | Swedbank Robur vs. Superior Plus Corp | Swedbank Robur vs. Origin Agritech |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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