Correlation Between Storebrand Global and Invesco Sterling
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By analyzing existing cross correlation between Storebrand Global Solutions and Invesco Sterling Bond, you can compare the effects of market volatilities on Storebrand Global and Invesco Sterling 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 Storebrand Global with a short position of Invesco Sterling. Check out your portfolio center. Please also check ongoing floating volatility patterns of Storebrand Global and Invesco Sterling.
Diversification Opportunities for Storebrand Global and Invesco Sterling
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Storebrand and Invesco is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Storebrand Global Solutions and Invesco Sterling Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Invesco Sterling Bond and Storebrand Global 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 Storebrand Global Solutions are associated (or correlated) with Invesco Sterling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Invesco Sterling Bond has no effect on the direction of Storebrand Global i.e., Storebrand Global and Invesco Sterling go up and down completely randomly.
Pair Corralation between Storebrand Global and Invesco Sterling
If you would invest 163,352 in Storebrand Global Solutions on September 14, 2024 and sell it today you would earn a total of 74,655 from holding Storebrand Global Solutions or generate 45.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Storebrand Global Solutions vs. Invesco Sterling Bond
Performance |
| Timeline |
| Storebrand Global |
| Invesco Sterling Bond |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Storebrand Global and Invesco Sterling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Storebrand Global and Invesco Sterling
The main advantage of trading using opposite Storebrand Global and Invesco Sterling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Storebrand Global position performs unexpectedly, Invesco Sterling 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 Invesco Sterling will offset losses from the drop in Invesco Sterling's long position.| Storebrand Global vs. Franklin Floating Rate | Storebrand Global vs. Franklin Floating Rate | Storebrand Global vs. Franklin Floating Rate | Storebrand Global vs. Dalata Hotel Group |
| Invesco Sterling vs. KLP AksjeNorge Indeks | Invesco Sterling vs. Storebrand Global Solutions | Invesco Sterling vs. Nordea 1 | Invesco Sterling vs. Franklin Floating Rate |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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