Correlation Between Embracer Group and BICO Group
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By analyzing existing cross correlation between Embracer Group AB and BICO Group AB, you can compare the effects of market volatilities on Embracer Group and BICO Group 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 Embracer Group with a short position of BICO Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Embracer Group and BICO Group.
Diversification Opportunities for Embracer Group and BICO Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Embracer and BICO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Embracer Group AB and BICO Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BICO Group AB and Embracer Group 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 Embracer Group AB are associated (or correlated) with BICO Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BICO Group AB has no effect on the direction of Embracer Group i.e., Embracer Group and BICO Group go up and down completely randomly.
Pair Corralation between Embracer Group and BICO Group
If you would invest (100.00) in BICO Group AB on August 30, 2024 and sell it today you would earn a total of 100.00 from holding BICO Group AB or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Embracer Group AB vs. BICO Group AB
Performance |
| Timeline |
| Embracer Group AB |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| BICO Group AB |
Embracer Group and BICO Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Embracer Group and BICO Group
The main advantage of trading using opposite Embracer Group and BICO Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Embracer Group position performs unexpectedly, BICO Group 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 BICO Group will offset losses from the drop in BICO Group's long position.| Embracer Group vs. Sinch AB | Embracer Group vs. Samhllsbyggnadsbolaget i Norden | Embracer Group vs. Stillfront Group AB | Embracer Group vs. Investor AB ser |
| BICO Group vs. Sinch AB | BICO Group vs. Hexatronic Group AB | BICO Group vs. Surgical Science Sweden | BICO Group vs. Embracer Group AB |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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