Correlation Between Castellum and Acrinova
Can any of the company-specific risk be diversified away by investing in both Castellum and Acrinova at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Castellum and Acrinova into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Castellum AB and Acrinova AB Series, you can compare the effects of market volatilities on Castellum and Acrinova 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 Castellum with a short position of Acrinova. Check out your portfolio center. Please also check ongoing floating volatility patterns of Castellum and Acrinova.
Diversification Opportunities for Castellum and Acrinova
Pay attention - limited upside
The 3 months correlation between Castellum and Acrinova is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Castellum AB and Acrinova AB Series in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Acrinova AB Series and Castellum 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 Castellum AB are associated (or correlated) with Acrinova. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Acrinova AB Series has no effect on the direction of Castellum i.e., Castellum and Acrinova go up and down completely randomly.
Pair Corralation between Castellum and Acrinova
If you would invest (100.00) in Acrinova AB Series on October 7, 2024 and sell it today you would earn a total of 100.00 from holding Acrinova AB Series or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Castellum AB vs. Acrinova AB Series
Performance |
| Timeline |
| Castellum AB |
| Acrinova AB Series |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Castellum and Acrinova Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Castellum and Acrinova
The main advantage of trading using opposite Castellum and Acrinova positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Castellum position performs unexpectedly, Acrinova 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 Acrinova will offset losses from the drop in Acrinova's long position.| Castellum vs. Fabege AB | Castellum vs. Wihlborgs Fastigheter AB | Castellum vs. Fastighets AB Balder | Castellum vs. Catena 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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