Correlation Between PF Atlantic and Maj Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between PF Atlantic Petroleum and Maj Invest Glob, you can compare the effects of market volatilities on PF Atlantic and Maj Invest 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 Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and Maj Invest.
Diversification Opportunities for PF Atlantic and Maj Invest
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ATLA-DKK and Maj is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and Maj Invest Glob in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Glob 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 Maj Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maj Invest Glob has no effect on the direction of PF Atlantic i.e., PF Atlantic and Maj Invest go up and down completely randomly.
Pair Corralation between PF Atlantic and Maj Invest
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to under-perform the Maj Invest. In addition to that, PF Atlantic is 4.9 times more volatile than Maj Invest Glob. It trades about -0.13 of its total potential returns per unit of risk. Maj Invest Glob is currently generating about 0.03 per unit of volatility. If you would invest 14,090 in Maj Invest Glob on September 13, 2024 and sell it today you would earn a total of 50.00 from holding Maj Invest Glob or generate 0.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. Maj Invest Glob
Performance |
| Timeline |
| PF Atlantic Petroleum |
| Maj Invest Glob |
PF Atlantic and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and Maj Invest
The main advantage of trading using opposite PF Atlantic and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, Maj Invest 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 Maj Invest will offset losses from the drop in Maj Invest's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. Orphazyme AS | PF Atlantic vs. TORM plc |
| Maj Invest vs. Groenlandsbanken AS | Maj Invest vs. North Media AS | Maj Invest vs. Nordfyns Bank AS | Maj Invest vs. Embla Medical hf |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |