Correlation Between PF Atlantic and Skjern Bank
Specify exactly 2 symbols:
By analyzing existing cross correlation between PF Atlantic Petroleum and Skjern Bank AS, you can compare the effects of market volatilities on PF Atlantic and Skjern Bank 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 Skjern Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and Skjern Bank.
Diversification Opportunities for PF Atlantic and Skjern Bank
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ATLA-DKK and Skjern is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and Skjern Bank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Skjern Bank 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 Skjern Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Skjern Bank AS has no effect on the direction of PF Atlantic i.e., PF Atlantic and Skjern Bank go up and down completely randomly.
Pair Corralation between PF Atlantic and Skjern Bank
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to under-perform the Skjern Bank. In addition to that, PF Atlantic is 2.55 times more volatile than Skjern Bank AS. It trades about -0.02 of its total potential returns per unit of risk. Skjern Bank AS is currently generating about 0.06 per unit of volatility. If you would invest 12,452 in Skjern Bank AS on November 9, 2024 and sell it today you would earn a total of 6,998 from holding Skjern Bank AS or generate 56.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. Skjern Bank AS
Performance |
| Timeline |
| PF Atlantic Petroleum |
| Skjern Bank AS |
PF Atlantic and Skjern Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and Skjern Bank
The main advantage of trading using opposite PF Atlantic and Skjern Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, Skjern Bank 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 Skjern Bank will offset losses from the drop in Skjern Bank's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. TORM plc | PF Atlantic vs. Zealand Pharma AS |
| Skjern Bank vs. Danske Andelskassers Bank | Skjern Bank vs. NTG Nordic Transport | Skjern Bank vs. Dataproces Group AS | Skjern Bank vs. Moens Bank 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |