Correlation Between Corem Property and Cibus Nordic
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By analyzing existing cross correlation between Corem Property Group and Cibus Nordic Real, you can compare the effects of market volatilities on Corem Property and Cibus Nordic 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 Corem Property with a short position of Cibus Nordic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Corem Property and Cibus Nordic.
Diversification Opportunities for Corem Property and Cibus Nordic
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Corem and Cibus is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Corem Property Group and Cibus Nordic Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cibus Nordic Real and Corem Property 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 Corem Property Group are associated (or correlated) with Cibus Nordic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cibus Nordic Real has no effect on the direction of Corem Property i.e., Corem Property and Cibus Nordic go up and down completely randomly.
Pair Corralation between Corem Property and Cibus Nordic
Assuming the 90 days trading horizon Corem Property is expected to generate 1.62 times less return on investment than Cibus Nordic. But when comparing it to its historical volatility, Corem Property Group is 1.28 times less risky than Cibus Nordic. It trades about 0.12 of its potential returns per unit of risk. Cibus Nordic Real is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 11,889 in Cibus Nordic Real on September 1, 2024 and sell it today you would earn a total of 5,571 from holding Cibus Nordic Real or generate 46.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.47% |
| Values | Daily Returns |
Corem Property Group vs. Cibus Nordic Real
Performance |
| Timeline |
| Corem Property Group |
| Cibus Nordic Real |
Corem Property and Cibus Nordic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Corem Property and Cibus Nordic
The main advantage of trading using opposite Corem Property and Cibus Nordic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Corem Property position performs unexpectedly, Cibus Nordic 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 Cibus Nordic will offset losses from the drop in Cibus Nordic's long position.| Corem Property vs. Fastighets AB Balder | Corem Property vs. Fabege AB | Corem Property vs. Wihlborgs Fastigheter AB | Corem Property vs. Castellum AB |
| Cibus Nordic vs. Castellum AB | Cibus Nordic vs. Samhllsbyggnadsbolaget i Norden | Cibus Nordic vs. Intrum Justitia AB | Cibus Nordic vs. Tele2 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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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