Correlation Between Atrium Ljungberg and Attendo AB
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By analyzing existing cross correlation between Atrium Ljungberg AB and Attendo AB, you can compare the effects of market volatilities on Atrium Ljungberg and Attendo AB 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 Atrium Ljungberg with a short position of Attendo AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Ljungberg and Attendo AB.
Diversification Opportunities for Atrium Ljungberg and Attendo AB
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atrium and Attendo is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Ljungberg AB and Attendo AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Attendo AB and Atrium Ljungberg 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 Atrium Ljungberg AB are associated (or correlated) with Attendo AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Attendo AB has no effect on the direction of Atrium Ljungberg i.e., Atrium Ljungberg and Attendo AB go up and down completely randomly.
Pair Corralation between Atrium Ljungberg and Attendo AB
Assuming the 90 days trading horizon Atrium Ljungberg AB is expected to under-perform the Attendo AB. In addition to that, Atrium Ljungberg is 1.03 times more volatile than Attendo AB. It trades about -0.21 of its total potential returns per unit of risk. Attendo AB is currently generating about 0.38 per unit of volatility. If you would invest 5,210 in Attendo AB on November 28, 2024 and sell it today you would earn a total of 990.00 from holding Attendo AB or generate 19.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Atrium Ljungberg AB vs. Attendo AB
Performance |
| Timeline |
| Atrium Ljungberg |
| Attendo AB |
Atrium Ljungberg and Attendo AB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atrium Ljungberg and Attendo AB
The main advantage of trading using opposite Atrium Ljungberg and Attendo AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Ljungberg position performs unexpectedly, Attendo AB 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 Attendo AB will offset losses from the drop in Attendo AB's long position.| Atrium Ljungberg vs. Hufvudstaden AB | Atrium Ljungberg vs. Fabege AB | Atrium Ljungberg vs. Wihlborgs Fastigheter AB | Atrium Ljungberg vs. Fastighets AB Balder |
| Attendo AB vs. Humana AB | Attendo AB vs. Ambea AB | Attendo AB vs. Dometic Group AB | Attendo AB vs. Bonava AB |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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