Correlation Between Handelsbanken Emerging and KLP AksjeGlobal
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By analyzing existing cross correlation between Handelsbanken Emerging Markets and KLP AksjeGlobal Flerfaktor, you can compare the effects of market volatilities on Handelsbanken Emerging and KLP AksjeGlobal 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 Handelsbanken Emerging with a short position of KLP AksjeGlobal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Handelsbanken Emerging and KLP AksjeGlobal.
Diversification Opportunities for Handelsbanken Emerging and KLP AksjeGlobal
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Handelsbanken and KLP is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Handelsbanken Emerging Markets and KLP AksjeGlobal Flerfaktor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KLP AksjeGlobal Fler and Handelsbanken Emerging 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 Handelsbanken Emerging Markets are associated (or correlated) with KLP AksjeGlobal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KLP AksjeGlobal Fler has no effect on the direction of Handelsbanken Emerging i.e., Handelsbanken Emerging and KLP AksjeGlobal go up and down completely randomly.
Pair Corralation between Handelsbanken Emerging and KLP AksjeGlobal
Assuming the 90 days trading horizon Handelsbanken Emerging Markets is expected to under-perform the KLP AksjeGlobal. In addition to that, Handelsbanken Emerging is 1.26 times more volatile than KLP AksjeGlobal Flerfaktor. It trades about -0.23 of its total potential returns per unit of risk. KLP AksjeGlobal Flerfaktor is currently generating about 0.28 per unit of volatility. If you would invest 231,841 in KLP AksjeGlobal Flerfaktor on August 30, 2024 and sell it today you would earn a total of 7,048 from holding KLP AksjeGlobal Flerfaktor or generate 3.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Handelsbanken Emerging Markets vs. KLP AksjeGlobal Flerfaktor
Performance |
| Timeline |
| Handelsbanken Emerging |
| KLP AksjeGlobal Fler |
Handelsbanken Emerging and KLP AksjeGlobal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Handelsbanken Emerging and KLP AksjeGlobal
The main advantage of trading using opposite Handelsbanken Emerging and KLP AksjeGlobal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Handelsbanken Emerging position performs unexpectedly, KLP AksjeGlobal 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 KLP AksjeGlobal will offset losses from the drop in KLP AksjeGlobal's long position.| Handelsbanken Emerging vs. KLP AksjeNorge Indeks | Handelsbanken Emerging vs. Storebrand Global Solutions | Handelsbanken Emerging vs. Nordea 1 | Handelsbanken Emerging vs. Franklin Floating Rate |
| KLP AksjeGlobal vs. Franklin Floating Rate | KLP AksjeGlobal vs. Franklin Floating Rate | KLP AksjeGlobal vs. Franklin Floating Rate | KLP AksjeGlobal vs. Dalata Hotel Group |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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