Correlation Between Dalata Hotel and KLP AksjeGlobal
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By analyzing existing cross correlation between Dalata Hotel Group and KLP AksjeGlobal Indeks, you can compare the effects of market volatilities on Dalata Hotel and KLP AksjeGlobal 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 Dalata Hotel with a short position of KLP AksjeGlobal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalata Hotel and KLP AksjeGlobal.
Diversification Opportunities for Dalata Hotel and KLP AksjeGlobal
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dalata and KLP is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Dalata Hotel Group and KLP AksjeGlobal Indeks in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KLP AksjeGlobal Indeks and Dalata Hotel 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 Dalata Hotel Group are associated (or correlated) with KLP AksjeGlobal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KLP AksjeGlobal Indeks has no effect on the direction of Dalata Hotel i.e., Dalata Hotel and KLP AksjeGlobal go up and down completely randomly.
Pair Corralation between Dalata Hotel and KLP AksjeGlobal
Assuming the 90 days trading horizon Dalata Hotel Group is expected to generate 2.27 times more return on investment than KLP AksjeGlobal. However, Dalata Hotel is 2.27 times more volatile than KLP AksjeGlobal Indeks. It trades about 0.05 of its potential returns per unit of risk. KLP AksjeGlobal Indeks is currently generating about 0.11 per unit of risk. If you would invest 322.00 in Dalata Hotel Group on September 4, 2024 and sell it today you would earn a total of 118.00 from holding Dalata Hotel Group or generate 36.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.4% |
| Values | Daily Returns |
Dalata Hotel Group vs. KLP AksjeGlobal Indeks
Performance |
| Timeline |
| Dalata Hotel Group |
| KLP AksjeGlobal Indeks |
Dalata Hotel and KLP AksjeGlobal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalata Hotel and KLP AksjeGlobal
The main advantage of trading using opposite Dalata Hotel and KLP AksjeGlobal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalata Hotel position performs unexpectedly, KLP AksjeGlobal 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 KLP AksjeGlobal will offset losses from the drop in KLP AksjeGlobal's long position.| Dalata Hotel vs. AIB Group PLC | Dalata Hotel vs. Bank of Ireland | Dalata Hotel vs. Kingspan Group plc | Dalata Hotel vs. Irish Residential Properties |
| KLP AksjeGlobal vs. Franklin Floating Rate | KLP AksjeGlobal vs. Franklin Floating Rate | KLP AksjeGlobal vs. Franklin Floating Rate | KLP AksjeGlobal vs. Dalata Hotel Group |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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