Correlation Between Caixabank Seleccin and Swedbank Robur
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By analyzing existing cross correlation between Caixabank Seleccin Tendencias and Swedbank Robur Corporate, you can compare the effects of market volatilities on Caixabank Seleccin 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 Caixabank Seleccin with a short position of Swedbank Robur. Check out your portfolio center. Please also check ongoing floating volatility patterns of Caixabank Seleccin and Swedbank Robur.
Diversification Opportunities for Caixabank Seleccin and Swedbank Robur
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Caixabank and Swedbank is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Caixabank Seleccin Tendencias 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 Caixabank Seleccin 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 Caixabank Seleccin Tendencias 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 Caixabank Seleccin i.e., Caixabank Seleccin and Swedbank Robur go up and down completely randomly.
Pair Corralation between Caixabank Seleccin and Swedbank Robur
Assuming the 90 days trading horizon Caixabank Seleccin Tendencias is expected to generate 3.06 times more return on investment than Swedbank Robur. However, Caixabank Seleccin is 3.06 times more volatile than Swedbank Robur Corporate. It trades about 0.06 of its potential returns per unit of risk. Swedbank Robur Corporate is currently generating about 0.1 per unit of risk. If you would invest 1,336 in Caixabank Seleccin Tendencias on October 22, 2024 and sell it today you would earn a total of 321.00 from holding Caixabank Seleccin Tendencias or generate 24.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.4% |
| Values | Daily Returns |
Caixabank Seleccin Tendencias vs. Swedbank Robur Corporate
Performance |
| Timeline |
| Caixabank Seleccin |
| Swedbank Robur Corporate |
Caixabank Seleccin and Swedbank Robur Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Caixabank Seleccin and Swedbank Robur
The main advantage of trading using opposite Caixabank Seleccin and Swedbank Robur positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Caixabank Seleccin 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.| Caixabank Seleccin vs. Esfera Robotics R | Caixabank Seleccin vs. R co Valor F | Caixabank Seleccin vs. CM AM Monplus NE | Caixabank Seleccin vs. IE00B0H4TS55 |
| Swedbank Robur vs. Esfera Robotics R | Swedbank Robur vs. R co Valor F | Swedbank Robur vs. CM AM Monplus NE | Swedbank Robur vs. IE00B0H4TS55 |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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