Correlation Between Agat Ejendomme and PF Atlantic
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By analyzing existing cross correlation between Agat Ejendomme AS and PF Atlantic Petroleum, you can compare the effects of market volatilities on Agat Ejendomme and PF Atlantic 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 Agat Ejendomme with a short position of PF Atlantic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agat Ejendomme and PF Atlantic.
Diversification Opportunities for Agat Ejendomme and PF Atlantic
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Agat and ATLA-DKK is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Agat Ejendomme AS and PF Atlantic Petroleum in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PF Atlantic Petroleum and Agat Ejendomme 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 Agat Ejendomme AS are associated (or correlated) with PF Atlantic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PF Atlantic Petroleum has no effect on the direction of Agat Ejendomme i.e., Agat Ejendomme and PF Atlantic go up and down completely randomly.
Pair Corralation between Agat Ejendomme and PF Atlantic
Assuming the 90 days trading horizon Agat Ejendomme AS is expected to generate 0.61 times more return on investment than PF Atlantic. However, Agat Ejendomme AS is 1.64 times less risky than PF Atlantic. It trades about -0.01 of its potential returns per unit of risk. PF Atlantic Petroleum is currently generating about -0.08 per unit of risk. If you would invest 152.00 in Agat Ejendomme AS on August 28, 2024 and sell it today you would lose (5.00) from holding Agat Ejendomme AS or give up 3.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agat Ejendomme AS vs. PF Atlantic Petroleum
Performance |
| Timeline |
| Agat Ejendomme AS |
| PF Atlantic Petroleum |
Agat Ejendomme and PF Atlantic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agat Ejendomme and PF Atlantic
The main advantage of trading using opposite Agat Ejendomme and PF Atlantic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agat Ejendomme position performs unexpectedly, PF Atlantic 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 PF Atlantic will offset losses from the drop in PF Atlantic's long position.| Agat Ejendomme vs. Cemat AS | Agat Ejendomme vs. Columbus AS | Agat Ejendomme vs. Harboes Bryggeri AS | Agat Ejendomme vs. Copenhagen Capital AS |
| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. Orphazyme AS | PF Atlantic vs. TORM plc |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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