Correlation Between CBrain AS and LUXOR-B
Specify exactly 2 symbols:
By analyzing existing cross correlation between cBrain AS and Investeringsselskabet Luxor AS, you can compare the effects of market volatilities on CBrain AS and LUXOR-B 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 CBrain AS with a short position of LUXOR-B. Check out your portfolio center. Please also check ongoing floating volatility patterns of CBrain AS and LUXOR-B.
Diversification Opportunities for CBrain AS and LUXOR-B
Modest diversification
The 3 months correlation between CBrain and LUXOR-B is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding cBrain AS and Investeringsselskabet Luxor AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsselskabet and CBrain AS 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 cBrain AS are associated (or correlated) with LUXOR-B. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsselskabet has no effect on the direction of CBrain AS i.e., CBrain AS and LUXOR-B go up and down completely randomly.
Pair Corralation between CBrain AS and LUXOR-B
Assuming the 90 days trading horizon cBrain AS is expected to under-perform the LUXOR-B. In addition to that, CBrain AS is 1.56 times more volatile than Investeringsselskabet Luxor AS. It trades about -0.01 of its total potential returns per unit of risk. Investeringsselskabet Luxor AS is currently generating about 0.01 per unit of volatility. If you would invest 56,000 in Investeringsselskabet Luxor AS on August 29, 2024 and sell it today you would earn a total of 0.00 from holding Investeringsselskabet Luxor AS or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
cBrain AS vs. Investeringsselskabet Luxor AS
Performance |
| Timeline |
| cBrain AS |
| Investeringsselskabet |
CBrain AS and LUXOR-B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CBrain AS and LUXOR-B
The main advantage of trading using opposite CBrain AS and LUXOR-B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CBrain AS position performs unexpectedly, LUXOR-B 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 LUXOR-B will offset losses from the drop in LUXOR-B's long position.| CBrain AS vs. ChemoMetec AS | CBrain AS vs. Ambu AS | CBrain AS vs. Genmab AS | CBrain AS vs. Zealand Pharma AS |
| LUXOR-B vs. Skjern Bank AS | LUXOR-B vs. Groenlandsbanken AS | LUXOR-B vs. Fynske Bank AS | LUXOR-B vs. Lollands Bank |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Commodity Directory Find actively traded commodities issued by global exchanges |