Correlation Between Embracer Group and Sivers IMA
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By analyzing existing cross correlation between Embracer Group AB and Sivers IMA Holding, you can compare the effects of market volatilities on Embracer Group and Sivers IMA 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 Sivers IMA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Embracer Group and Sivers IMA.
Diversification Opportunities for Embracer Group and Sivers IMA
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Embracer and Sivers is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Embracer Group AB and Sivers IMA Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sivers IMA Holding 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 Sivers IMA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sivers IMA Holding has no effect on the direction of Embracer Group i.e., Embracer Group and Sivers IMA go up and down completely randomly.
Pair Corralation between Embracer Group and Sivers IMA
Assuming the 90 days trading horizon Embracer Group AB is expected to generate 0.29 times more return on investment than Sivers IMA. However, Embracer Group AB is 3.42 times less risky than Sivers IMA. It trades about 0.33 of its potential returns per unit of risk. Sivers IMA Holding is currently generating about 0.1 per unit of risk. If you would invest 18,474 in Embracer Group AB on November 5, 2024 and sell it today you would earn a total of 4,026 from holding Embracer Group AB or generate 21.79% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Embracer Group AB vs. Sivers IMA Holding
Performance |
Timeline |
Embracer Group AB |
Sivers IMA Holding |
Embracer Group and Sivers IMA Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Embracer Group and Sivers IMA
The main advantage of trading using opposite Embracer Group and Sivers IMA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Embracer Group position performs unexpectedly, Sivers IMA 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 Sivers IMA will offset losses from the drop in Sivers IMA's long position.Embracer Group vs. Evolution AB | Embracer Group vs. Sinch AB | Embracer Group vs. Samhllsbyggnadsbolaget i Norden | Embracer Group vs. Stillfront Group AB |
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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