Correlation Between Bonesupport Holding and Bactiguard Holding
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By analyzing existing cross correlation between Bonesupport Holding AB and Bactiguard Holding AB, you can compare the effects of market volatilities on Bonesupport Holding and Bactiguard Holding 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 Bonesupport Holding with a short position of Bactiguard Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bonesupport Holding and Bactiguard Holding.
Diversification Opportunities for Bonesupport Holding and Bactiguard Holding
-0.87 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bonesupport and Bactiguard is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding Bonesupport Holding AB and Bactiguard Holding AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bactiguard Holding and Bonesupport Holding 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 Bonesupport Holding AB are associated (or correlated) with Bactiguard Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bactiguard Holding has no effect on the direction of Bonesupport Holding i.e., Bonesupport Holding and Bactiguard Holding go up and down completely randomly.
Pair Corralation between Bonesupport Holding and Bactiguard Holding
Assuming the 90 days trading horizon Bonesupport Holding AB is expected to generate 0.66 times more return on investment than Bactiguard Holding. However, Bonesupport Holding AB is 1.52 times less risky than Bactiguard Holding. It trades about 0.18 of its potential returns per unit of risk. Bactiguard Holding AB is currently generating about -0.18 per unit of risk. If you would invest 34,180 in Bonesupport Holding AB on August 31, 2024 and sell it today you would earn a total of 2,820 from holding Bonesupport Holding AB or generate 8.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bonesupport Holding AB vs. Bactiguard Holding AB
Performance |
| Timeline |
| Bonesupport Holding |
| Bactiguard Holding |
Bonesupport Holding and Bactiguard Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bonesupport Holding and Bactiguard Holding
The main advantage of trading using opposite Bonesupport Holding and Bactiguard Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bonesupport Holding position performs unexpectedly, Bactiguard Holding 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 Bactiguard Holding will offset losses from the drop in Bactiguard Holding's long position.| Bonesupport Holding vs. BioArctic AB | Bonesupport Holding vs. Camurus AB | Bonesupport Holding vs. Xvivo Perfusion AB | Bonesupport Holding vs. Surgical Science Sweden |
| Bactiguard Holding vs. Biotage AB | Bactiguard Holding vs. CellaVision AB | Bactiguard Holding vs. Bonesupport Holding AB | Bactiguard Holding vs. MedCap 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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