Correlation Between Exel Composites and F SECURE
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By analyzing existing cross correlation between Exel Composites Oyj and F SECURE OYJ, you can compare the effects of market volatilities on Exel Composites and F SECURE 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 Exel Composites with a short position of F SECURE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exel Composites and F SECURE.
Diversification Opportunities for Exel Composites and F SECURE
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Exel and FSECURE is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Exel Composites Oyj and F SECURE OYJ in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on F SECURE OYJ and Exel Composites 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 Exel Composites Oyj are associated (or correlated) with F SECURE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of F SECURE OYJ has no effect on the direction of Exel Composites i.e., Exel Composites and F SECURE go up and down completely randomly.
Pair Corralation between Exel Composites and F SECURE
Assuming the 90 days trading horizon Exel Composites Oyj is expected to under-perform the F SECURE. In addition to that, Exel Composites is 1.2 times more volatile than F SECURE OYJ. It trades about -0.45 of its total potential returns per unit of risk. F SECURE OYJ is currently generating about -0.22 per unit of volatility. If you would invest 204.00 in F SECURE OYJ on August 27, 2024 and sell it today you would lose (20.00) from holding F SECURE OYJ or give up 9.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Exel Composites Oyj vs. F SECURE OYJ
Performance |
| Timeline |
| Exel Composites Oyj |
| F SECURE OYJ |
Exel Composites and F SECURE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Exel Composites and F SECURE
The main advantage of trading using opposite Exel Composites and F SECURE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exel Composites position performs unexpectedly, F SECURE 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 F SECURE will offset losses from the drop in F SECURE's long position.| Exel Composites vs. Aktia Bank Abp | Exel Composites vs. Alandsbanken Abp B | Exel Composites vs. Alandsbanken Abp A | Exel Composites vs. Sampo Oyj A |
| F SECURE vs. Trainers House Oyj | F SECURE vs. Detection Technology OY | F SECURE vs. Reka Industrial Oyj | F SECURE vs. Aiforia Technologies Oyj |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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