Correlation Between Castellum and Corem Property
Specify exactly 2 symbols:
By analyzing existing cross correlation between Castellum AB and Corem Property Group, you can compare the effects of market volatilities on Castellum 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 Castellum with a short position of Corem Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Castellum and Corem Property.
Diversification Opportunities for Castellum and Corem Property
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Castellum and Corem is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Castellum 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 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 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 Castellum i.e., Castellum and Corem Property go up and down completely randomly.
Pair Corralation between Castellum and Corem Property
Assuming the 90 days trading horizon Castellum AB is expected to under-perform the Corem Property. In addition to that, Castellum is 1.03 times more volatile than Corem Property Group. It trades about -0.05 of its total potential returns per unit of risk. Corem Property Group is currently generating about 0.01 per unit of volatility. If you would invest 24,450 in Corem Property Group on December 1, 2024 and sell it today you would earn a total of 50.00 from holding Corem Property Group or generate 0.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Castellum AB vs. Corem Property Group
Performance |
| Timeline |
| Castellum AB |
| Corem Property Group |
Castellum and Corem Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Castellum and Corem Property
The main advantage of trading using opposite Castellum and Corem Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Castellum 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.| Castellum vs. Fabege AB | Castellum vs. Samhllsbyggnadsbolaget i Norden | Castellum vs. Fastighets AB Balder | Castellum vs. Axfood AB |
| Corem Property vs. AB Sagax | Corem Property vs. Volati AB | Corem Property vs. Dios Fastigheter AB | Corem Property vs. NP3 Fastigheter 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |