Correlation Between KLP Aksje and Glenveagh Properties
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By analyzing existing cross correlation between KLP Aksje Fremvoksende and Glenveagh Properties PLC, you can compare the effects of market volatilities on KLP Aksje and Glenveagh Properties 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 KLP Aksje with a short position of Glenveagh Properties. Check out your portfolio center. Please also check ongoing floating volatility patterns of KLP Aksje and Glenveagh Properties.
Diversification Opportunities for KLP Aksje and Glenveagh Properties
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between KLP and Glenveagh is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding KLP Aksje Fremvoksende and Glenveagh Properties PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Glenveagh Properties PLC and KLP Aksje 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 KLP Aksje Fremvoksende are associated (or correlated) with Glenveagh Properties. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Glenveagh Properties PLC has no effect on the direction of KLP Aksje i.e., KLP Aksje and Glenveagh Properties go up and down completely randomly.
Pair Corralation between KLP Aksje and Glenveagh Properties
Assuming the 90 days trading horizon KLP Aksje Fremvoksende is expected to generate 0.69 times more return on investment than Glenveagh Properties. However, KLP Aksje Fremvoksende is 1.46 times less risky than Glenveagh Properties. It trades about -0.05 of its potential returns per unit of risk. Glenveagh Properties PLC is currently generating about -0.2 per unit of risk. If you would invest 179,339 in KLP Aksje Fremvoksende on August 30, 2024 and sell it today you would lose (1,553) from holding KLP Aksje Fremvoksende or give up 0.87% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
KLP Aksje Fremvoksende vs. Glenveagh Properties PLC
Performance |
| Timeline |
| KLP Aksje Fremvoksende |
| Glenveagh Properties PLC |
KLP Aksje and Glenveagh Properties Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KLP Aksje and Glenveagh Properties
The main advantage of trading using opposite KLP Aksje and Glenveagh Properties positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KLP Aksje position performs unexpectedly, Glenveagh Properties 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 Glenveagh Properties will offset losses from the drop in Glenveagh Properties' long position.| KLP Aksje vs. KLP AksjeGlobal Flerfaktor | KLP Aksje vs. KLP AksjeEuropa Indeks | KLP Aksje vs. KLP AksjeGlobal Indeks | KLP Aksje vs. KLP AksjeUSA Indeks |
| Glenveagh Properties vs. Dalata Hotel Group | Glenveagh Properties vs. AIB Group PLC | Glenveagh Properties vs. Irish Residential Properties | Glenveagh Properties vs. Bank of Ireland |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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