Correlation Between Atrium Ljungberg and Sinch AB
Specify exactly 2 symbols:
By analyzing existing cross correlation between Atrium Ljungberg AB and Sinch AB, you can compare the effects of market volatilities on Atrium Ljungberg and Sinch 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 Sinch AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Ljungberg and Sinch AB.
Diversification Opportunities for Atrium Ljungberg and Sinch AB
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Atrium and Sinch is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Ljungberg AB and Sinch AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinch 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 Sinch AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinch AB has no effect on the direction of Atrium Ljungberg i.e., Atrium Ljungberg and Sinch AB go up and down completely randomly.
Pair Corralation between Atrium Ljungberg and Sinch AB
Assuming the 90 days trading horizon Atrium Ljungberg AB is expected to generate 0.45 times more return on investment than Sinch AB. However, Atrium Ljungberg AB is 2.23 times less risky than Sinch AB. It trades about 0.01 of its potential returns per unit of risk. Sinch AB is currently generating about 0.0 per unit of risk. If you would invest 19,684 in Atrium Ljungberg AB on September 12, 2024 and sell it today you would lose (164.00) from holding Atrium Ljungberg AB or give up 0.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atrium Ljungberg AB vs. Sinch AB
Performance |
| Timeline |
| Atrium Ljungberg |
| Sinch AB |
Atrium Ljungberg and Sinch AB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atrium Ljungberg and Sinch AB
The main advantage of trading using opposite Atrium Ljungberg and Sinch AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Ljungberg position performs unexpectedly, Sinch 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 Sinch AB will offset losses from the drop in Sinch 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 |
| Sinch AB vs. Embracer Group AB | Sinch AB vs. Samhllsbyggnadsbolaget i Norden | Sinch AB vs. Evolution AB | Sinch AB vs. Stillfront 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |