Correlation Between Dalata Hotel and KLP Aksje
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By analyzing existing cross correlation between Dalata Hotel Group and KLP Aksje Fremvoksende, you can compare the effects of market volatilities on Dalata Hotel and KLP Aksje 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 Aksje. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalata Hotel and KLP Aksje.
Diversification Opportunities for Dalata Hotel and KLP Aksje
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Dalata and KLP is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Dalata Hotel Group and KLP Aksje Fremvoksende in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KLP Aksje Fremvoksende 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 Aksje. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KLP Aksje Fremvoksende has no effect on the direction of Dalata Hotel i.e., Dalata Hotel and KLP Aksje go up and down completely randomly.
Pair Corralation between Dalata Hotel and KLP Aksje
Assuming the 90 days trading horizon Dalata Hotel Group is expected to generate 1.93 times more return on investment than KLP Aksje. However, Dalata Hotel is 1.93 times more volatile than KLP Aksje Fremvoksende. It trades about 0.08 of its potential returns per unit of risk. KLP Aksje Fremvoksende is currently generating about -0.03 per unit of risk. If you would invest 420.00 in Dalata Hotel Group on August 28, 2024 and sell it today you would earn a total of 18.00 from holding Dalata Hotel Group or generate 4.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.35% |
| Values | Daily Returns |
Dalata Hotel Group vs. KLP Aksje Fremvoksende
Performance |
| Timeline |
| Dalata Hotel Group |
| KLP Aksje Fremvoksende |
Dalata Hotel and KLP Aksje Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalata Hotel and KLP Aksje
The main advantage of trading using opposite Dalata Hotel and KLP Aksje positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalata Hotel position performs unexpectedly, KLP Aksje 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 Aksje will offset losses from the drop in KLP Aksje'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 Aksje vs. Franklin Floating Rate | KLP Aksje vs. Franklin Floating Rate | KLP Aksje vs. Franklin Floating Rate | KLP Aksje 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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