Correlation Between Alandsbanken Abp and F SECURE
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By analyzing existing cross correlation between Alandsbanken Abp A and F SECURE OYJ, you can compare the effects of market volatilities on Alandsbanken Abp and F SECURE 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 Alandsbanken Abp with a short position of F SECURE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alandsbanken Abp and F SECURE.
Diversification Opportunities for Alandsbanken Abp and F SECURE
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Alandsbanken and FSECURE is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Alandsbanken Abp A and F SECURE OYJ in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on F SECURE OYJ and Alandsbanken Abp 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 Alandsbanken Abp A are associated (or correlated) with F SECURE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of F SECURE OYJ has no effect on the direction of Alandsbanken Abp i.e., Alandsbanken Abp and F SECURE go up and down completely randomly.
Pair Corralation between Alandsbanken Abp and F SECURE
Assuming the 90 days trading horizon Alandsbanken Abp A is expected to generate 0.82 times more return on investment than F SECURE. However, Alandsbanken Abp A is 1.22 times less risky than F SECURE. It trades about 0.04 of its potential returns per unit of risk. F SECURE OYJ is currently generating about 0.02 per unit of risk. If you would invest 2,949 in Alandsbanken Abp A on September 2, 2024 and sell it today you would earn a total of 451.00 from holding Alandsbanken Abp A or generate 15.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Alandsbanken Abp A vs. F SECURE OYJ
Performance |
| Timeline |
| Alandsbanken Abp A |
| F SECURE OYJ |
Alandsbanken Abp and F SECURE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alandsbanken Abp and F SECURE
The main advantage of trading using opposite Alandsbanken Abp and F SECURE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alandsbanken Abp position performs unexpectedly, F SECURE 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 F SECURE will offset losses from the drop in F SECURE's long position.| Alandsbanken Abp vs. Aktia Bank Abp | Alandsbanken Abp vs. Alandsbanken Abp B | Alandsbanken Abp vs. CapMan Oyj B | Alandsbanken Abp vs. Tokmanni Group Oyj |
| F SECURE vs. Alandsbanken Abp A | F SECURE vs. QPR Software Oyj | F SECURE vs. Alma Media Oyj | F SECURE vs. SSH Communications Security |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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