Correlation Between PF Atlantic and Sparinvest INDEX
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By analyzing existing cross correlation between PF Atlantic Petroleum and Sparinvest INDEX Globale, you can compare the effects of market volatilities on PF Atlantic and Sparinvest INDEX 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 Sparinvest INDEX. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and Sparinvest INDEX.
Diversification Opportunities for PF Atlantic and Sparinvest INDEX
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between ATLA-DKK and Sparinvest is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and Sparinvest INDEX Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinvest INDEX Globale 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 Sparinvest INDEX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinvest INDEX Globale has no effect on the direction of PF Atlantic i.e., PF Atlantic and Sparinvest INDEX go up and down completely randomly.
Pair Corralation between PF Atlantic and Sparinvest INDEX
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to generate 10.64 times more return on investment than Sparinvest INDEX. However, PF Atlantic is 10.64 times more volatile than Sparinvest INDEX Globale. It trades about 0.02 of its potential returns per unit of risk. Sparinvest INDEX Globale is currently generating about 0.05 per unit of risk. If you would invest 233.00 in PF Atlantic Petroleum on October 25, 2024 and sell it today you would lose (8.00) from holding PF Atlantic Petroleum or give up 3.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.33% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. Sparinvest INDEX Globale
Performance |
| Timeline |
| PF Atlantic Petroleum |
| Sparinvest INDEX Globale |
PF Atlantic and Sparinvest INDEX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and Sparinvest INDEX
The main advantage of trading using opposite PF Atlantic and Sparinvest INDEX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, Sparinvest INDEX 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 Sparinvest INDEX will offset losses from the drop in Sparinvest INDEX's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. TORM plc | PF Atlantic vs. Zealand Pharma AS |
| Sparinvest INDEX vs. Sparinvest Lange | Sparinvest INDEX vs. Sparinvest Value Emerging | Sparinvest INDEX vs. Sparinvest Europa Growth | Sparinvest INDEX vs. Sparinvest INDEX Europa |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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