Correlation Between Bonesupport Holding and Implantica
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By analyzing existing cross correlation between Bonesupport Holding AB and Implantica AG, you can compare the effects of market volatilities on Bonesupport Holding and Implantica 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 Implantica. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bonesupport Holding and Implantica.
Diversification Opportunities for Bonesupport Holding and Implantica
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bonesupport and Implantica is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Bonesupport Holding AB and Implantica AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Implantica AG 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 Implantica. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Implantica AG has no effect on the direction of Bonesupport Holding i.e., Bonesupport Holding and Implantica go up and down completely randomly.
Pair Corralation between Bonesupport Holding and Implantica
Assuming the 90 days trading horizon Bonesupport Holding AB is expected to generate 1.33 times more return on investment than Implantica. However, Bonesupport Holding is 1.33 times more volatile than Implantica AG. It trades about 0.17 of its potential returns per unit of risk. Implantica AG is currently generating about -0.19 per unit of risk. If you would invest 34,380 in Bonesupport Holding AB on December 1, 2024 and sell it today you would earn a total of 4,200 from holding Bonesupport Holding AB or generate 12.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Bonesupport Holding AB vs. Implantica AG
Performance |
| Timeline |
| Bonesupport Holding |
| Implantica AG |
Bonesupport Holding and Implantica Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bonesupport Holding and Implantica
The main advantage of trading using opposite Bonesupport Holding and Implantica positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bonesupport Holding position performs unexpectedly, Implantica 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 Implantica will offset losses from the drop in Implantica'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 |
| Implantica vs. Clinical Laserthermia Systems | Implantica vs. Episurf Medical AB | Implantica vs. KABE Group AB | Implantica vs. IAR Systems Group |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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