Correlation Between Eolus Vind and K2A Knaust
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By analyzing existing cross correlation between Eolus Vind AB and K2A Knaust Andersson, you can compare the effects of market volatilities on Eolus Vind and K2A Knaust 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 Eolus Vind with a short position of K2A Knaust. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eolus Vind and K2A Knaust.
Diversification Opportunities for Eolus Vind and K2A Knaust
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Eolus and K2A is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Eolus Vind AB and K2A Knaust Andersson in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on K2A Knaust Andersson and Eolus Vind 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 Eolus Vind AB are associated (or correlated) with K2A Knaust. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of K2A Knaust Andersson has no effect on the direction of Eolus Vind i.e., Eolus Vind and K2A Knaust go up and down completely randomly.
Pair Corralation between Eolus Vind and K2A Knaust
Assuming the 90 days trading horizon Eolus Vind AB is expected to under-perform the K2A Knaust. In addition to that, Eolus Vind is 1.73 times more volatile than K2A Knaust Andersson. It trades about -0.06 of its total potential returns per unit of risk. K2A Knaust Andersson is currently generating about -0.04 per unit of volatility. If you would invest 18,950 in K2A Knaust Andersson on August 26, 2024 and sell it today you would lose (650.00) from holding K2A Knaust Andersson or give up 3.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eolus Vind AB vs. K2A Knaust Andersson
Performance |
| Timeline |
| Eolus Vind AB |
| K2A Knaust Andersson |
Eolus Vind and K2A Knaust Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eolus Vind and K2A Knaust
The main advantage of trading using opposite Eolus Vind and K2A Knaust positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eolus Vind position performs unexpectedly, K2A Knaust 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 K2A Knaust will offset losses from the drop in K2A Knaust's long position.| Eolus Vind vs. Lifco AB | Eolus Vind vs. Sdiptech AB | Eolus Vind vs. Vitec Software Group | Eolus Vind vs. Addtech AB |
| K2A Knaust vs. Corem Property Group | K2A Knaust vs. Volati AB | K2A Knaust vs. NP3 Fastigheter AB | K2A Knaust vs. Heimstaden AB Pfd |
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 Stocks Directory module to find actively traded stocks across global markets.
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