Correlation Between AGRICUL BK and Diös Fastigheter
Can any of the company-specific risk be diversified away by investing in both AGRICUL BK and Diös Fastigheter at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining AGRICUL BK and Diös Fastigheter into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AGRICUL BK CHINA H and Dis Fastigheter AB, you can compare the effects of market volatilities on AGRICUL BK and Diös Fastigheter 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 AGRICUL BK with a short position of Diös Fastigheter. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGRICUL BK and Diös Fastigheter.
Diversification Opportunities for AGRICUL BK and Diös Fastigheter
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AGRICUL and Diös is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding AGRICUL BK CHINA H and Dis Fastigheter AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dis Fastigheter AB and AGRICUL BK 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 AGRICUL BK CHINA H are associated (or correlated) with Diös Fastigheter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dis Fastigheter AB has no effect on the direction of AGRICUL BK i.e., AGRICUL BK and Diös Fastigheter go up and down completely randomly.
Pair Corralation between AGRICUL BK and Diös Fastigheter
Assuming the 90 days trading horizon AGRICUL BK CHINA H is expected to generate 5.66 times more return on investment than Diös Fastigheter. However, AGRICUL BK is 5.66 times more volatile than Dis Fastigheter AB. It trades about 0.09 of its potential returns per unit of risk. Dis Fastigheter AB is currently generating about 0.0 per unit of risk. If you would invest 16.00 in AGRICUL BK CHINA H on September 3, 2024 and sell it today you would earn a total of 30.00 from holding AGRICUL BK CHINA H or generate 187.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AGRICUL BK CHINA H vs. Dis Fastigheter AB
Performance |
| Timeline |
| AGRICUL BK CHINA |
| Dis Fastigheter AB |
AGRICUL BK and Diös Fastigheter Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGRICUL BK and Diös Fastigheter
The main advantage of trading using opposite AGRICUL BK and Diös Fastigheter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGRICUL BK position performs unexpectedly, Diös Fastigheter 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 Diös Fastigheter will offset losses from the drop in Diös Fastigheter's long position.| AGRICUL BK vs. ANTA SPORTS PRODUCT | AGRICUL BK vs. Perseus Mining Limited | AGRICUL BK vs. Jacquet Metal Service | AGRICUL BK vs. Playa Hotels Resorts |
| Diös Fastigheter vs. Regions Financial | Diös Fastigheter vs. VITEC SOFTWARE GROUP | Diös Fastigheter vs. FORMPIPE SOFTWARE AB | Diös Fastigheter vs. ASURE SOFTWARE |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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