Correlation Between Aiforia Technologies and Viafin Service
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By analyzing existing cross correlation between Aiforia Technologies Oyj and Viafin Service Oyj, you can compare the effects of market volatilities on Aiforia Technologies and Viafin Service 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 Viafin Service. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aiforia Technologies and Viafin Service.
Diversification Opportunities for Aiforia Technologies and Viafin Service
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aiforia and Viafin is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Aiforia Technologies Oyj and Viafin Service Oyj in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viafin Service 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 Viafin Service. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viafin Service Oyj has no effect on the direction of Aiforia Technologies i.e., Aiforia Technologies and Viafin Service go up and down completely randomly.
Pair Corralation between Aiforia Technologies and Viafin Service
Assuming the 90 days trading horizon Aiforia Technologies Oyj is expected to under-perform the Viafin Service. In addition to that, Aiforia Technologies is 1.39 times more volatile than Viafin Service Oyj. It trades about -0.08 of its total potential returns per unit of risk. Viafin Service Oyj is currently generating about 0.12 per unit of volatility. If you would invest 1,730 in Viafin Service Oyj on September 2, 2024 and sell it today you would earn a total of 210.00 from holding Viafin Service Oyj or generate 12.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aiforia Technologies Oyj vs. Viafin Service Oyj
Performance |
| Timeline |
| Aiforia Technologies Oyj |
| Viafin Service Oyj |
Aiforia Technologies and Viafin Service Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aiforia Technologies and Viafin Service
The main advantage of trading using opposite Aiforia Technologies and Viafin Service positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aiforia Technologies position performs unexpectedly, Viafin Service 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 Viafin Service will offset losses from the drop in Viafin Service's long position.| Aiforia Technologies vs. Alandsbanken Abp A | Aiforia Technologies vs. Detection Technology OY | Aiforia Technologies vs. Trainers House Oyj | Aiforia Technologies vs. Nordea Bank Abp |
| Viafin Service vs. Elecster Oyj A | Viafin Service vs. Vaisala Oyj A | Viafin Service vs. Sanoma Oyj | Viafin Service vs. EcoUp 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 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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