Correlation Between OURGAME INTHOLDL and Atrium Ljungberg
Can any of the company-specific risk be diversified away by investing in both OURGAME INTHOLDL and Atrium Ljungberg at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining OURGAME INTHOLDL and Atrium Ljungberg into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between OURGAME INTHOLDL 00005 and Atrium Ljungberg AB, you can compare the effects of market volatilities on OURGAME INTHOLDL and Atrium Ljungberg 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 OURGAME INTHOLDL with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of OURGAME INTHOLDL and Atrium Ljungberg.
Diversification Opportunities for OURGAME INTHOLDL and Atrium Ljungberg
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OURGAME and Atrium is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OURGAME INTHOLDL 00005 and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and OURGAME INTHOLDL 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 OURGAME INTHOLDL 00005 are associated (or correlated) with Atrium Ljungberg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrium Ljungberg has no effect on the direction of OURGAME INTHOLDL i.e., OURGAME INTHOLDL and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between OURGAME INTHOLDL and Atrium Ljungberg
Assuming the 90 days horizon OURGAME INTHOLDL 00005 is expected to generate 4.05 times more return on investment than Atrium Ljungberg. However, OURGAME INTHOLDL is 4.05 times more volatile than Atrium Ljungberg AB. It trades about 0.03 of its potential returns per unit of risk. Atrium Ljungberg AB is currently generating about 0.06 per unit of risk. If you would invest 3.55 in OURGAME INTHOLDL 00005 on September 5, 2024 and sell it today you would lose (1.95) from holding OURGAME INTHOLDL 00005 or give up 54.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
OURGAME INTHOLDL 00005 vs. Atrium Ljungberg AB
Performance |
| Timeline |
| OURGAME INTHOLDL 00005 |
| Atrium Ljungberg |
OURGAME INTHOLDL and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OURGAME INTHOLDL and Atrium Ljungberg
The main advantage of trading using opposite OURGAME INTHOLDL and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OURGAME INTHOLDL position performs unexpectedly, Atrium Ljungberg 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 Atrium Ljungberg will offset losses from the drop in Atrium Ljungberg's long position.| OURGAME INTHOLDL vs. Nintendo Co | OURGAME INTHOLDL vs. Sea Limited | OURGAME INTHOLDL vs. Take Two Interactive Software | OURGAME INTHOLDL vs. Bilibili |
| Atrium Ljungberg vs. China Resources Land | Atrium Ljungberg vs. RADIANCE HLDGS GRPHD 01 | Atrium Ljungberg vs. CIFI Holdings Co | Atrium Ljungberg vs. REDSUN PROPERTIES 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |