Correlation Between Aiforia Technologies and Asuntosalkku Oyj
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By analyzing existing cross correlation between Aiforia Technologies Oyj and Asuntosalkku Oyj, you can compare the effects of market volatilities on Aiforia Technologies and Asuntosalkku Oyj 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 Aiforia Technologies with a short position of Asuntosalkku Oyj. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aiforia Technologies and Asuntosalkku Oyj.
Diversification Opportunities for Aiforia Technologies and Asuntosalkku Oyj
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Aiforia and Asuntosalkku is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Aiforia Technologies Oyj and Asuntosalkku Oyj in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asuntosalkku Oyj and Aiforia Technologies 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 Aiforia Technologies Oyj are associated (or correlated) with Asuntosalkku Oyj. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asuntosalkku Oyj has no effect on the direction of Aiforia Technologies i.e., Aiforia Technologies and Asuntosalkku Oyj go up and down completely randomly.
Pair Corralation between Aiforia Technologies and Asuntosalkku Oyj
Assuming the 90 days trading horizon Aiforia Technologies Oyj is expected to under-perform the Asuntosalkku Oyj. In addition to that, Aiforia Technologies is 1.34 times more volatile than Asuntosalkku Oyj. It trades about -0.37 of its total potential returns per unit of risk. Asuntosalkku Oyj is currently generating about -0.1 per unit of volatility. If you would invest 7,900 in Asuntosalkku Oyj on August 28, 2024 and sell it today you would lose (250.00) from holding Asuntosalkku Oyj or give up 3.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aiforia Technologies Oyj vs. Asuntosalkku Oyj
Performance |
| Timeline |
| Aiforia Technologies Oyj |
| Asuntosalkku Oyj |
Aiforia Technologies and Asuntosalkku Oyj Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aiforia Technologies and Asuntosalkku Oyj
The main advantage of trading using opposite Aiforia Technologies and Asuntosalkku Oyj positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aiforia Technologies position performs unexpectedly, Asuntosalkku Oyj 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 Asuntosalkku Oyj will offset losses from the drop in Asuntosalkku Oyj's long position.| Aiforia Technologies vs. Kamux Suomi Oy | Aiforia Technologies vs. Harvia Oyj | Aiforia Technologies vs. Qt Group Oyj | Aiforia Technologies vs. Tecnotree Oyj |
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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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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