Correlation Between Fastighets and KlaraBo Sverige
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By analyzing existing cross correlation between Fastighets AB Balder and KlaraBo Sverige AB, you can compare the effects of market volatilities on Fastighets and KlaraBo Sverige 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 Fastighets with a short position of KlaraBo Sverige. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fastighets and KlaraBo Sverige.
Diversification Opportunities for Fastighets and KlaraBo Sverige
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Fastighets and KlaraBo is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Fastighets AB Balder and KlaraBo Sverige AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KlaraBo Sverige AB and Fastighets 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 Fastighets AB Balder are associated (or correlated) with KlaraBo Sverige. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KlaraBo Sverige AB has no effect on the direction of Fastighets i.e., Fastighets and KlaraBo Sverige go up and down completely randomly.
Pair Corralation between Fastighets and KlaraBo Sverige
Assuming the 90 days trading horizon Fastighets AB Balder is expected to generate 1.04 times more return on investment than KlaraBo Sverige. However, Fastighets is 1.04 times more volatile than KlaraBo Sverige AB. It trades about 0.05 of its potential returns per unit of risk. KlaraBo Sverige AB is currently generating about 0.01 per unit of risk. If you would invest 5,208 in Fastighets AB Balder on September 3, 2024 and sell it today you would earn a total of 3,184 from holding Fastighets AB Balder or generate 61.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fastighets AB Balder vs. KlaraBo Sverige AB
Performance |
| Timeline |
| Fastighets AB Balder |
| KlaraBo Sverige AB |
Fastighets and KlaraBo Sverige Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fastighets and KlaraBo Sverige
The main advantage of trading using opposite Fastighets and KlaraBo Sverige positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fastighets position performs unexpectedly, KlaraBo Sverige 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 KlaraBo Sverige will offset losses from the drop in KlaraBo Sverige's long position.| Fastighets vs. Castellum AB | Fastighets vs. Fabege AB | Fastighets vs. AB Sagax | Fastighets vs. Wallenstam AB |
| KlaraBo Sverige vs. Cibus Nordic Real | KlaraBo Sverige vs. Samhaellsbyggnadsbolaget i Norden | KlaraBo Sverige vs. ALM Equity AB | KlaraBo Sverige vs. Castellum 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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