Correlation Between Bergman Beving and Train Alliance
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By analyzing existing cross correlation between Bergman Beving AB and Train Alliance Sweden, you can compare the effects of market volatilities on Bergman Beving and Train Alliance 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 Bergman Beving with a short position of Train Alliance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bergman Beving and Train Alliance.
Diversification Opportunities for Bergman Beving and Train Alliance
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Bergman and Train is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Bergman Beving AB and Train Alliance Sweden in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Train Alliance Sweden and Bergman Beving 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 Bergman Beving AB are associated (or correlated) with Train Alliance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Train Alliance Sweden has no effect on the direction of Bergman Beving i.e., Bergman Beving and Train Alliance go up and down completely randomly.
Pair Corralation between Bergman Beving and Train Alliance
Assuming the 90 days trading horizon Bergman Beving AB is expected to under-perform the Train Alliance. In addition to that, Bergman Beving is 2.0 times more volatile than Train Alliance Sweden. It trades about -0.04 of its total potential returns per unit of risk. Train Alliance Sweden is currently generating about 0.24 per unit of volatility. If you would invest 1,825 in Train Alliance Sweden on October 24, 2024 and sell it today you would earn a total of 85.00 from holding Train Alliance Sweden or generate 4.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bergman Beving AB vs. Train Alliance Sweden
Performance |
| Timeline |
| Bergman Beving AB |
| Train Alliance Sweden |
Bergman Beving and Train Alliance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bergman Beving and Train Alliance
The main advantage of trading using opposite Bergman Beving and Train Alliance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bergman Beving position performs unexpectedly, Train Alliance 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 Train Alliance will offset losses from the drop in Train Alliance's long position.| Bergman Beving vs. Lagercrantz Group AB | Bergman Beving vs. Addtech AB | Bergman Beving vs. AddLife AB | Bergman Beving vs. Bufab Holding AB |
| Train Alliance vs. Bergman Beving AB | Train Alliance vs. FM Mattsson Mora | Train Alliance vs. Systemair AB | Train Alliance vs. Rejlers 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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