Correlation Between Atrium Ljungberg and Fastighetsbolaget
Specify exactly 2 symbols:
By analyzing existing cross correlation between Atrium Ljungberg AB and Fastighetsbolaget Emilshus AB, you can compare the effects of market volatilities on Atrium Ljungberg and Fastighetsbolaget 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 Fastighetsbolaget. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Ljungberg and Fastighetsbolaget.
Diversification Opportunities for Atrium Ljungberg and Fastighetsbolaget
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Atrium and Fastighetsbolaget is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Ljungberg AB and Fastighetsbolaget Emilshus AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fastighetsbolaget 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 Fastighetsbolaget. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fastighetsbolaget has no effect on the direction of Atrium Ljungberg i.e., Atrium Ljungberg and Fastighetsbolaget go up and down completely randomly.
Pair Corralation between Atrium Ljungberg and Fastighetsbolaget
Assuming the 90 days trading horizon Atrium Ljungberg AB is expected to under-perform the Fastighetsbolaget. But the stock apears to be less risky and, when comparing its historical volatility, Atrium Ljungberg AB is 1.41 times less risky than Fastighetsbolaget. The stock trades about -0.11 of its potential returns per unit of risk. The Fastighetsbolaget Emilshus AB is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 4,430 in Fastighetsbolaget Emilshus AB on September 3, 2024 and sell it today you would earn a total of 460.00 from holding Fastighetsbolaget Emilshus AB or generate 10.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atrium Ljungberg AB vs. Fastighetsbolaget Emilshus AB
Performance |
| Timeline |
| Atrium Ljungberg |
| Fastighetsbolaget |
Atrium Ljungberg and Fastighetsbolaget Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atrium Ljungberg and Fastighetsbolaget
The main advantage of trading using opposite Atrium Ljungberg and Fastighetsbolaget positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Ljungberg position performs unexpectedly, Fastighetsbolaget 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 Fastighetsbolaget will offset losses from the drop in Fastighetsbolaget's long position.| Atrium Ljungberg vs. Sinch AB | Atrium Ljungberg vs. Embracer Group AB | Atrium Ljungberg vs. Investor AB ser | Atrium Ljungberg vs. Castellum AB |
| Fastighetsbolaget vs. HEBA Fastighets AB | Fastighetsbolaget vs. Platzer Fastigheter Holding | Fastighetsbolaget vs. Dios Fastigheter AB | Fastighetsbolaget vs. Atrium Ljungberg 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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |