Correlation Between Cibus Nordic and Atrium Ljungberg
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By analyzing existing cross correlation between Cibus Nordic Real and Atrium Ljungberg AB, you can compare the effects of market volatilities on Cibus Nordic 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 Cibus Nordic with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cibus Nordic and Atrium Ljungberg.
Diversification Opportunities for Cibus Nordic and Atrium Ljungberg
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Cibus and Atrium is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Cibus Nordic Real and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and Cibus Nordic 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 Cibus Nordic Real 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 Cibus Nordic i.e., Cibus Nordic and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between Cibus Nordic and Atrium Ljungberg
Assuming the 90 days trading horizon Cibus Nordic Real is expected to generate 0.89 times more return on investment than Atrium Ljungberg. However, Cibus Nordic Real is 1.12 times less risky than Atrium Ljungberg. It trades about 0.0 of its potential returns per unit of risk. Atrium Ljungberg AB is currently generating about -0.28 per unit of risk. If you would invest 17,595 in Cibus Nordic Real on August 31, 2024 and sell it today you would lose (55.00) from holding Cibus Nordic Real or give up 0.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cibus Nordic Real vs. Atrium Ljungberg AB
Performance |
| Timeline |
| Cibus Nordic Real |
| Atrium Ljungberg |
Cibus Nordic and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cibus Nordic and Atrium Ljungberg
The main advantage of trading using opposite Cibus Nordic and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cibus Nordic 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.| Cibus Nordic vs. Fastighets AB Balder | Cibus Nordic vs. Fabege AB | Cibus Nordic vs. Wihlborgs Fastigheter AB | Cibus Nordic vs. Castellum AB |
| Atrium Ljungberg vs. FastPartner AB | Atrium Ljungberg vs. Svolder AB | Atrium Ljungberg vs. Fastighets AB Balder | Atrium Ljungberg vs. Cibus Nordic Real |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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