Correlation Between Brinova Fastigheter and Corem Property
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By analyzing existing cross correlation between Brinova Fastigheter AB and Corem Property Group, you can compare the effects of market volatilities on Brinova Fastigheter and Corem Property 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 Brinova Fastigheter with a short position of Corem Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brinova Fastigheter and Corem Property.
Diversification Opportunities for Brinova Fastigheter and Corem Property
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Brinova and Corem is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Brinova Fastigheter AB and Corem Property Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corem Property Group and Brinova Fastigheter 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 Brinova Fastigheter AB are associated (or correlated) with Corem Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corem Property Group has no effect on the direction of Brinova Fastigheter i.e., Brinova Fastigheter and Corem Property go up and down completely randomly.
Pair Corralation between Brinova Fastigheter and Corem Property
Assuming the 90 days trading horizon Brinova Fastigheter AB is expected to under-perform the Corem Property. In addition to that, Brinova Fastigheter is 1.84 times more volatile than Corem Property Group. It trades about -0.31 of its total potential returns per unit of risk. Corem Property Group is currently generating about -0.03 per unit of volatility. If you would invest 26,500 in Corem Property Group on September 13, 2024 and sell it today you would lose (200.00) from holding Corem Property Group or give up 0.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Brinova Fastigheter AB vs. Corem Property Group
Performance |
| Timeline |
| Brinova Fastigheter |
| Corem Property Group |
Brinova Fastigheter and Corem Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brinova Fastigheter and Corem Property
The main advantage of trading using opposite Brinova Fastigheter and Corem Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brinova Fastigheter position performs unexpectedly, Corem Property 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 Corem Property will offset losses from the drop in Corem Property's long position.| Brinova Fastigheter vs. Corem Property Group | Brinova Fastigheter vs. ALM Equity AB | Brinova Fastigheter vs. Fastighets AB Balder | Brinova Fastigheter vs. KABE Group AB |
| Corem Property vs. ALM Equity AB | Corem Property vs. Fastighets AB Balder | Corem Property vs. KABE Group AB | Corem Property 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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