Correlation Between CapMan Oyj and F SECURE
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By analyzing existing cross correlation between CapMan Oyj B and F SECURE OYJ, you can compare the effects of market volatilities on CapMan Oyj and F SECURE 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 CapMan Oyj with a short position of F SECURE. Check out your portfolio center. Please also check ongoing floating volatility patterns of CapMan Oyj and F SECURE.
Diversification Opportunities for CapMan Oyj and F SECURE
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CapMan and FSECURE is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding CapMan Oyj B and F SECURE OYJ in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on F SECURE OYJ and CapMan Oyj 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 CapMan Oyj B are associated (or correlated) with F SECURE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of F SECURE OYJ has no effect on the direction of CapMan Oyj i.e., CapMan Oyj and F SECURE go up and down completely randomly.
Pair Corralation between CapMan Oyj and F SECURE
Assuming the 90 days trading horizon CapMan Oyj B is expected to generate 0.55 times more return on investment than F SECURE. However, CapMan Oyj B is 1.82 times less risky than F SECURE. It trades about -0.15 of its potential returns per unit of risk. F SECURE OYJ is currently generating about -0.22 per unit of risk. If you would invest 183.00 in CapMan Oyj B on August 27, 2024 and sell it today you would lose (7.00) from holding CapMan Oyj B or give up 3.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CapMan Oyj B vs. F SECURE OYJ
Performance |
| Timeline |
| CapMan Oyj B |
| F SECURE OYJ |
CapMan Oyj and F SECURE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CapMan Oyj and F SECURE
The main advantage of trading using opposite CapMan Oyj and F SECURE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CapMan Oyj position performs unexpectedly, F SECURE 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 F SECURE will offset losses from the drop in F SECURE's long position.| CapMan Oyj vs. Nordea Bank Abp | CapMan Oyj vs. Fortum Oyj | CapMan Oyj vs. UPM Kymmene Oyj | CapMan Oyj vs. Neste Oil Oyj |
| F SECURE vs. Trainers House Oyj | F SECURE vs. Detection Technology OY | F SECURE vs. Reka Industrial Oyj | F SECURE vs. Aiforia Technologies Oyj |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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