Correlation Between Corem Property and AB Sagax
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By analyzing existing cross correlation between Corem Property Group and AB Sagax, you can compare the effects of market volatilities on Corem Property and AB Sagax 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 AB Sagax. Check out your portfolio center. Please also check ongoing floating volatility patterns of Corem Property and AB Sagax.
Diversification Opportunities for Corem Property and AB Sagax
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Corem and SAGA-A is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Corem Property Group and AB Sagax in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AB Sagax 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 AB Sagax. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AB Sagax has no effect on the direction of Corem Property i.e., Corem Property and AB Sagax go up and down completely randomly.
Pair Corralation between Corem Property and AB Sagax
Assuming the 90 days trading horizon Corem Property Group is expected to under-perform the AB Sagax. But the stock apears to be less risky and, when comparing its historical volatility, Corem Property Group is 1.84 times less risky than AB Sagax. The stock trades about -0.26 of its potential returns per unit of risk. The AB Sagax is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 22,200 in AB Sagax on November 4, 2024 and sell it today you would earn a total of 2,200 from holding AB Sagax or generate 9.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Corem Property Group vs. AB Sagax
Performance |
| Timeline |
| Corem Property Group |
| AB Sagax |
Corem Property and AB Sagax Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Corem Property and AB Sagax
The main advantage of trading using opposite Corem Property and AB Sagax positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Corem Property position performs unexpectedly, AB Sagax 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 AB Sagax will offset losses from the drop in AB Sagax's long position.| Corem Property vs. AB Sagax | Corem Property vs. Volati AB | Corem Property vs. Dios Fastigheter AB | Corem Property vs. NP3 Fastigheter AB |
| AB Sagax vs. Nexam Chemical Holding | AB Sagax vs. FormPipe Software AB | AB Sagax vs. Investment AB Oresund | AB Sagax vs. COOR Service Management |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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