Correlation Between Atrium Ljungberg and Catena AB
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By analyzing existing cross correlation between Atrium Ljungberg AB and Catena AB, you can compare the effects of market volatilities on Atrium Ljungberg and Catena 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 Catena AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Ljungberg and Catena AB.
Diversification Opportunities for Atrium Ljungberg and Catena AB
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Atrium and Catena is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Ljungberg AB and Catena AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Catena 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 Catena AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Catena AB has no effect on the direction of Atrium Ljungberg i.e., Atrium Ljungberg and Catena AB go up and down completely randomly.
Pair Corralation between Atrium Ljungberg and Catena AB
Assuming the 90 days trading horizon Atrium Ljungberg AB is expected to under-perform the Catena AB. In addition to that, Atrium Ljungberg is 1.13 times more volatile than Catena AB. It trades about -0.02 of its total potential returns per unit of risk. Catena AB is currently generating about 0.02 per unit of volatility. If you would invest 45,837 in Catena AB on September 12, 2024 and sell it today you would earn a total of 2,213 from holding Catena AB or generate 4.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atrium Ljungberg AB vs. Catena AB
Performance |
| Timeline |
| Atrium Ljungberg |
| Catena AB |
Atrium Ljungberg and Catena AB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atrium Ljungberg and Catena AB
The main advantage of trading using opposite Atrium Ljungberg and Catena AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Ljungberg position performs unexpectedly, Catena 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 Catena AB will offset losses from the drop in Catena 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 |
| Catena AB vs. Platzer Fastigheter Holding | Catena AB vs. AB Sagax | Catena AB vs. Nyfosa AB | Catena AB vs. Dios Fastigheter 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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