Correlation Between Copenhagen Capital and SKAKO AS
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By analyzing existing cross correlation between Copenhagen Capital AS and SKAKO AS, you can compare the effects of market volatilities on Copenhagen Capital and SKAKO AS 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 Copenhagen Capital with a short position of SKAKO AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Copenhagen Capital and SKAKO AS.
Diversification Opportunities for Copenhagen Capital and SKAKO AS
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Copenhagen and SKAKO is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Copenhagen Capital AS and SKAKO AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SKAKO AS and Copenhagen Capital 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 Copenhagen Capital AS are associated (or correlated) with SKAKO AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SKAKO AS has no effect on the direction of Copenhagen Capital i.e., Copenhagen Capital and SKAKO AS go up and down completely randomly.
Pair Corralation between Copenhagen Capital and SKAKO AS
Assuming the 90 days trading horizon Copenhagen Capital AS is expected to generate 0.49 times more return on investment than SKAKO AS. However, Copenhagen Capital AS is 2.02 times less risky than SKAKO AS. It trades about -0.1 of its potential returns per unit of risk. SKAKO AS is currently generating about -0.14 per unit of risk. If you would invest 520.00 in Copenhagen Capital AS on August 25, 2024 and sell it today you would lose (15.00) from holding Copenhagen Capital AS or give up 2.88% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Copenhagen Capital AS vs. SKAKO AS
Performance |
| Timeline |
| Copenhagen Capital |
| SKAKO AS |
Copenhagen Capital and SKAKO AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Copenhagen Capital and SKAKO AS
The main advantage of trading using opposite Copenhagen Capital and SKAKO AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Copenhagen Capital position performs unexpectedly, SKAKO AS 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 SKAKO AS will offset losses from the drop in SKAKO AS's long position.| Copenhagen Capital vs. SKAKO AS | Copenhagen Capital vs. Agat Ejendomme AS | Copenhagen Capital vs. Prime Office AS | Copenhagen Capital vs. Cemat AS |
| SKAKO AS vs. North Media AS | SKAKO AS vs. HH International AS | SKAKO AS vs. Per Aarsleff Holding | SKAKO AS vs. First Farms AS |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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