Correlation Between Aiforia Technologies and SSH Communications
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By analyzing existing cross correlation between Aiforia Technologies Oyj and SSH Communications Security, you can compare the effects of market volatilities on Aiforia Technologies and SSH Communications 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 SSH Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aiforia Technologies and SSH Communications.
Diversification Opportunities for Aiforia Technologies and SSH Communications
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Aiforia and SSH is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Aiforia Technologies Oyj and SSH Communications Security in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSH Communications 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 SSH Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSH Communications has no effect on the direction of Aiforia Technologies i.e., Aiforia Technologies and SSH Communications go up and down completely randomly.
Pair Corralation between Aiforia Technologies and SSH Communications
Assuming the 90 days trading horizon Aiforia Technologies Oyj is expected to under-perform the SSH Communications. But the stock apears to be less risky and, when comparing its historical volatility, Aiforia Technologies Oyj is 2.05 times less risky than SSH Communications. The stock trades about -0.48 of its potential returns per unit of risk. The SSH Communications Security is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest 113.00 in SSH Communications Security on August 31, 2024 and sell it today you would lose (8.00) from holding SSH Communications Security or give up 7.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aiforia Technologies Oyj vs. SSH Communications Security
Performance |
| Timeline |
| Aiforia Technologies Oyj |
| SSH Communications |
Aiforia Technologies and SSH Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aiforia Technologies and SSH Communications
The main advantage of trading using opposite Aiforia Technologies and SSH Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aiforia Technologies position performs unexpectedly, SSH Communications 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 SSH Communications will offset losses from the drop in SSH Communications' long position.| Aiforia Technologies vs. Kamux Suomi Oy | Aiforia Technologies vs. Harvia Oyj | Aiforia Technologies vs. Puuilo Oyj | Aiforia Technologies vs. Qt Group Oyj |
| SSH Communications vs. Tecnotree Oyj | SSH Communications vs. Qt Group Oyj | SSH Communications vs. Bittium Oyj | SSH Communications vs. Harvia Oyj |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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