Correlation Between PF Atlantic and MapsPeople
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By analyzing existing cross correlation between PF Atlantic Petroleum and MapsPeople AS, you can compare the effects of market volatilities on PF Atlantic and MapsPeople 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 MapsPeople. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and MapsPeople.
Diversification Opportunities for PF Atlantic and MapsPeople
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between ATLA-DKK and MapsPeople is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and MapsPeople AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MapsPeople 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 MapsPeople. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MapsPeople AS has no effect on the direction of PF Atlantic i.e., PF Atlantic and MapsPeople go up and down completely randomly.
Pair Corralation between PF Atlantic and MapsPeople
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to generate 0.44 times more return on investment than MapsPeople. However, PF Atlantic Petroleum is 2.26 times less risky than MapsPeople. It trades about -0.08 of its potential returns per unit of risk. MapsPeople AS is currently generating about -0.04 per unit of risk. If you would invest 251.00 in PF Atlantic Petroleum on August 29, 2024 and sell it today you would lose (48.00) from holding PF Atlantic Petroleum or give up 19.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. MapsPeople AS
Performance |
| Timeline |
| PF Atlantic Petroleum |
| MapsPeople AS |
PF Atlantic and MapsPeople Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and MapsPeople
The main advantage of trading using opposite PF Atlantic and MapsPeople positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, MapsPeople 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 MapsPeople will offset losses from the drop in MapsPeople's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. Orphazyme AS | PF Atlantic vs. TORM plc |
| MapsPeople vs. Penneo AS | MapsPeople vs. Orderyoyo AS | MapsPeople vs. FOM Technologies AS | MapsPeople vs. Shape Robotics 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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