Correlation Between Attendo AB and Atrium Ljungberg
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By analyzing existing cross correlation between Attendo AB and Atrium Ljungberg AB, you can compare the effects of market volatilities on Attendo AB and Atrium Ljungberg 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 Attendo AB with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of Attendo AB and Atrium Ljungberg.
Diversification Opportunities for Attendo AB and Atrium Ljungberg
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Attendo and Atrium is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Attendo AB and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and Attendo AB 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 Attendo AB are associated (or correlated) with Atrium Ljungberg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrium Ljungberg has no effect on the direction of Attendo AB i.e., Attendo AB and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between Attendo AB and Atrium Ljungberg
Assuming the 90 days trading horizon Attendo AB is expected to generate 0.97 times more return on investment than Atrium Ljungberg. However, Attendo AB is 1.03 times less risky than Atrium Ljungberg. It trades about 0.38 of its potential returns per unit of risk. Atrium Ljungberg AB is currently generating about -0.21 per unit of risk. 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 |
Attendo AB vs. Atrium Ljungberg AB
Performance |
| Timeline |
| Attendo AB |
| Atrium Ljungberg |
Attendo AB and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Attendo AB and Atrium Ljungberg
The main advantage of trading using opposite Attendo AB and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Attendo AB position performs unexpectedly, Atrium Ljungberg 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 Atrium Ljungberg will offset losses from the drop in Atrium Ljungberg's long position.| Attendo AB vs. Humana AB | Attendo AB vs. Ambea AB | Attendo AB vs. Dometic Group AB | Attendo AB vs. Bonava AB |
| Atrium Ljungberg vs. Hufvudstaden AB | Atrium Ljungberg vs. Fabege AB | Atrium Ljungberg vs. Wihlborgs Fastigheter AB | Atrium Ljungberg vs. Fastighets AB Balder |
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 Stocks Directory module to find actively traded stocks across global markets.
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