Correlation Between Atrium Ljungberg and HEBA Fastighets
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By analyzing existing cross correlation between Atrium Ljungberg AB and HEBA Fastighets AB, you can compare the effects of market volatilities on Atrium Ljungberg and HEBA Fastighets 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 HEBA Fastighets. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Ljungberg and HEBA Fastighets.
Diversification Opportunities for Atrium Ljungberg and HEBA Fastighets
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Atrium and HEBA is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Ljungberg AB and HEBA Fastighets AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HEBA Fastighets 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 HEBA Fastighets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HEBA Fastighets AB has no effect on the direction of Atrium Ljungberg i.e., Atrium Ljungberg and HEBA Fastighets go up and down completely randomly.
Pair Corralation between Atrium Ljungberg and HEBA Fastighets
Assuming the 90 days trading horizon Atrium Ljungberg AB is expected to under-perform the HEBA Fastighets. In addition to that, Atrium Ljungberg is 1.0 times more volatile than HEBA Fastighets AB. It trades about -0.02 of its total potential returns per unit of risk. HEBA Fastighets AB is currently generating about 0.01 per unit of volatility. If you would invest 3,099 in HEBA Fastighets AB on September 12, 2024 and sell it today you would earn a total of 86.00 from holding HEBA Fastighets AB or generate 2.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atrium Ljungberg AB vs. HEBA Fastighets AB
Performance |
| Timeline |
| Atrium Ljungberg |
| HEBA Fastighets AB |
Atrium Ljungberg and HEBA Fastighets Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atrium Ljungberg and HEBA Fastighets
The main advantage of trading using opposite Atrium Ljungberg and HEBA Fastighets positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Ljungberg position performs unexpectedly, HEBA Fastighets 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 HEBA Fastighets will offset losses from the drop in HEBA Fastighets' long position.| Atrium Ljungberg vs. Hufvudstaden AB | Atrium Ljungberg vs. Fabege AB | Atrium Ljungberg vs. Wihlborgs Fastigheter AB | Atrium Ljungberg vs. Fastighets AB Balder |
| HEBA Fastighets vs. Corem Property Group | HEBA Fastighets vs. ALM Equity AB | HEBA Fastighets vs. Fastighets AB Balder | HEBA Fastighets vs. KABE Group 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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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