Correlation Between Catena AB and Atrium Ljungberg
Specify exactly 2 symbols:
By analyzing existing cross correlation between Catena AB and Atrium Ljungberg AB, you can compare the effects of market volatilities on Catena AB and Atrium Ljungberg 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 Catena AB with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of Catena AB and Atrium Ljungberg.
Diversification Opportunities for Catena AB and Atrium Ljungberg
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Catena and Atrium is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Catena AB and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and Catena AB 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 Catena AB are associated (or correlated) with Atrium Ljungberg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrium Ljungberg has no effect on the direction of Catena AB i.e., Catena AB and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between Catena AB and Atrium Ljungberg
Assuming the 90 days trading horizon Catena AB is expected to generate 0.82 times more return on investment than Atrium Ljungberg. However, Catena AB is 1.22 times less risky than Atrium Ljungberg. It trades about -0.01 of its potential returns per unit of risk. Atrium Ljungberg AB is currently generating about 0.0 per unit of risk. If you would invest 50,084 in Catena AB on November 3, 2024 and sell it today you would lose (1,734) from holding Catena AB or give up 3.46% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Catena AB vs. Atrium Ljungberg AB
Performance |
| Timeline |
| Catena AB |
| Atrium Ljungberg |
Catena AB and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Catena AB and Atrium Ljungberg
The main advantage of trading using opposite Catena AB and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Catena AB position performs unexpectedly, Atrium Ljungberg 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 Atrium Ljungberg will offset losses from the drop in Atrium Ljungberg's long position.| Catena AB vs. Fastighets AB Balder | Catena AB vs. Fabege AB | Catena AB vs. Wihlborgs Fastigheter AB | Catena AB vs. AB Sagax |
| Atrium Ljungberg vs. Hufvudstaden AB | Atrium Ljungberg vs. Fabege AB | Atrium Ljungberg vs. Wihlborgs Fastigheter AB | Atrium Ljungberg vs. Fastighets AB Balder |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |