Correlation Between Cantargia and Integrum
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By analyzing existing cross correlation between Cantargia AB and Integrum AB Series, you can compare the effects of market volatilities on Cantargia and Integrum 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 Cantargia with a short position of Integrum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cantargia and Integrum.
Diversification Opportunities for Cantargia and Integrum
Poor diversification
The 3 months correlation between Cantargia and Integrum is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Cantargia AB and Integrum AB Series in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrum AB Series and Cantargia 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 Cantargia AB are associated (or correlated) with Integrum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrum AB Series has no effect on the direction of Cantargia i.e., Cantargia and Integrum go up and down completely randomly.
Pair Corralation between Cantargia and Integrum
Assuming the 90 days trading horizon Cantargia AB is expected to under-perform the Integrum. In addition to that, Cantargia is 2.83 times more volatile than Integrum AB Series. It trades about -0.26 of its total potential returns per unit of risk. Integrum AB Series is currently generating about -0.02 per unit of volatility. If you would invest 2,450 in Integrum AB Series on August 28, 2024 and sell it today you would lose (50.00) from holding Integrum AB Series or give up 2.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cantargia AB vs. Integrum AB Series
Performance |
| Timeline |
| Cantargia AB |
| Integrum AB Series |
Cantargia and Integrum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cantargia and Integrum
The main advantage of trading using opposite Cantargia and Integrum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cantargia position performs unexpectedly, Integrum 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 Integrum will offset losses from the drop in Integrum's long position.| Cantargia vs. Hansa Biopharma AB | Cantargia vs. Oncopeptides AB | Cantargia vs. BioArctic AB | Cantargia vs. Alligator Bioscience AB |
| Integrum vs. Addtech AB | Integrum vs. Lifco AB | Integrum vs. Indutrade AB | Integrum vs. Lagercrantz Group 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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