Correlation Between Divio Technologies and Svenska Handelsbanken
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By analyzing existing cross correlation between Divio Technologies AB and Svenska Handelsbanken AB, you can compare the effects of market volatilities on Divio Technologies and Svenska Handelsbanken 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 Divio Technologies with a short position of Svenska Handelsbanken. Check out your portfolio center. Please also check ongoing floating volatility patterns of Divio Technologies and Svenska Handelsbanken.
Diversification Opportunities for Divio Technologies and Svenska Handelsbanken
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Divio and Svenska is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Divio Technologies AB and Svenska Handelsbanken AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Svenska Handelsbanken and Divio Technologies 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 Divio Technologies AB are associated (or correlated) with Svenska Handelsbanken. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Svenska Handelsbanken has no effect on the direction of Divio Technologies i.e., Divio Technologies and Svenska Handelsbanken go up and down completely randomly.
Pair Corralation between Divio Technologies and Svenska Handelsbanken
Assuming the 90 days trading horizon Divio Technologies AB is expected to under-perform the Svenska Handelsbanken. In addition to that, Divio Technologies is 4.56 times more volatile than Svenska Handelsbanken AB. It trades about -0.17 of its total potential returns per unit of risk. Svenska Handelsbanken AB is currently generating about 0.06 per unit of volatility. If you would invest 10,970 in Svenska Handelsbanken AB on September 24, 2024 and sell it today you would earn a total of 235.00 from holding Svenska Handelsbanken AB or generate 2.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Divio Technologies AB vs. Svenska Handelsbanken AB
Performance |
| Timeline |
| Divio Technologies |
| Svenska Handelsbanken |
Divio Technologies and Svenska Handelsbanken Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Divio Technologies and Svenska Handelsbanken
The main advantage of trading using opposite Divio Technologies and Svenska Handelsbanken positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Divio Technologies position performs unexpectedly, Svenska Handelsbanken 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 Svenska Handelsbanken will offset losses from the drop in Svenska Handelsbanken's long position.| Divio Technologies vs. FormPipe Software AB | Divio Technologies vs. MOBA Network publ | Divio Technologies vs. Exsitec Holding AB | Divio Technologies vs. Novotek AB |
| Svenska Handelsbanken vs. Swedbank AB | Svenska Handelsbanken vs. Tele2 AB | Svenska Handelsbanken vs. Telia Company AB | Svenska Handelsbanken vs. Investor AB ser |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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