Correlation Between Alligo AB and Serstech
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By analyzing existing cross correlation between Alligo AB Series and Serstech AB, you can compare the effects of market volatilities on Alligo AB and Serstech 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 Alligo AB with a short position of Serstech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alligo AB and Serstech.
Diversification Opportunities for Alligo AB and Serstech
Very good diversification
The 3 months correlation between Alligo and Serstech is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Alligo AB Series and Serstech AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Serstech AB and Alligo AB 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 Alligo AB Series are associated (or correlated) with Serstech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Serstech AB has no effect on the direction of Alligo AB i.e., Alligo AB and Serstech go up and down completely randomly.
Pair Corralation between Alligo AB and Serstech
Assuming the 90 days trading horizon Alligo AB Series is expected to generate 0.46 times more return on investment than Serstech. However, Alligo AB Series is 2.17 times less risky than Serstech. It trades about 0.05 of its potential returns per unit of risk. Serstech AB is currently generating about -0.09 per unit of risk. If you would invest 13,600 in Alligo AB Series on December 9, 2024 and sell it today you would earn a total of 300.00 from holding Alligo AB Series or generate 2.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Alligo AB Series vs. Serstech AB
Performance |
| Timeline |
| Alligo AB Series |
| Serstech AB |
Alligo AB and Serstech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alligo AB and Serstech
The main advantage of trading using opposite Alligo AB and Serstech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alligo AB position performs unexpectedly, Serstech 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 Serstech will offset losses from the drop in Serstech's long position.| Alligo AB vs. AddLife AB | ||
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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