Correlation Between PF Atlantic and Silkeborg
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By analyzing existing cross correlation between PF Atlantic Petroleum and Silkeborg IF Invest, you can compare the effects of market volatilities on PF Atlantic and Silkeborg 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 Silkeborg. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and Silkeborg.
Diversification Opportunities for PF Atlantic and Silkeborg
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ATLA-DKK and Silkeborg is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and Silkeborg IF Invest in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Silkeborg IF Invest 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 Silkeborg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Silkeborg IF Invest has no effect on the direction of PF Atlantic i.e., PF Atlantic and Silkeborg go up and down completely randomly.
Pair Corralation between PF Atlantic and Silkeborg
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to under-perform the Silkeborg. In addition to that, PF Atlantic is 2.59 times more volatile than Silkeborg IF Invest. It trades about -0.21 of its total potential returns per unit of risk. Silkeborg IF Invest is currently generating about -0.14 per unit of volatility. If you would invest 4,000 in Silkeborg IF Invest on October 12, 2024 and sell it today you would lose (240.00) from holding Silkeborg IF Invest or give up 6.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 94.44% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. Silkeborg IF Invest
Performance |
| Timeline |
| PF Atlantic Petroleum |
| Silkeborg IF Invest |
PF Atlantic and Silkeborg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and Silkeborg
The main advantage of trading using opposite PF Atlantic and Silkeborg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, Silkeborg 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 Silkeborg will offset losses from the drop in Silkeborg's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. TORM plc | PF Atlantic vs. Zealand Pharma AS |
| Silkeborg vs. PARKEN Sport Entertainment | Silkeborg vs. Bang Olufsen | Silkeborg vs. BioPorto | Silkeborg vs. cBrain 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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