Correlation Between PF Atlantic and CBrain AS
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By analyzing existing cross correlation between PF Atlantic Petroleum and cBrain AS, you can compare the effects of market volatilities on PF Atlantic and CBrain AS 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 PF Atlantic with a short position of CBrain AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and CBrain AS.
Diversification Opportunities for PF Atlantic and CBrain AS
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between ATLA-DKK and CBrain is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and cBrain AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on cBrain AS and PF Atlantic 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 PF Atlantic Petroleum are associated (or correlated) with CBrain AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of cBrain AS has no effect on the direction of PF Atlantic i.e., PF Atlantic and CBrain AS go up and down completely randomly.
Pair Corralation between PF Atlantic and CBrain AS
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to generate 3.72 times more return on investment than CBrain AS. However, PF Atlantic is 3.72 times more volatile than cBrain AS. It trades about 0.25 of its potential returns per unit of risk. cBrain AS is currently generating about 0.09 per unit of risk. If you would invest 155.00 in PF Atlantic Petroleum on November 4, 2024 and sell it today you would earn a total of 82.00 from holding PF Atlantic Petroleum or generate 52.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. cBrain AS
Performance |
| Timeline |
| PF Atlantic Petroleum |
| cBrain AS |
PF Atlantic and CBrain AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and CBrain AS
The main advantage of trading using opposite PF Atlantic and CBrain AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, CBrain AS 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 CBrain AS will offset losses from the drop in CBrain AS's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. TORM plc | PF Atlantic vs. Zealand Pharma AS |
| CBrain AS vs. ChemoMetec AS | CBrain AS vs. Ambu AS | CBrain AS vs. Genmab AS | CBrain AS vs. Zealand Pharma AS |
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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