Correlation Between Fabege AB and Atrium Ljungberg
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By analyzing existing cross correlation between Fabege AB and Atrium Ljungberg AB, you can compare the effects of market volatilities on Fabege AB and Atrium Ljungberg 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 Fabege AB with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fabege AB and Atrium Ljungberg.
Diversification Opportunities for Fabege AB and Atrium Ljungberg
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Fabege and Atrium is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Fabege AB and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and Fabege AB 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 Fabege AB are associated (or correlated) with Atrium Ljungberg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrium Ljungberg has no effect on the direction of Fabege AB i.e., Fabege AB and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between Fabege AB and Atrium Ljungberg
Assuming the 90 days trading horizon Fabege AB is expected to generate 0.99 times more return on investment than Atrium Ljungberg. However, Fabege AB is 1.01 times less risky than Atrium Ljungberg. It trades about -0.01 of its potential returns per unit of risk. Atrium Ljungberg AB is currently generating about -0.11 per unit of risk. If you would invest 8,575 in Fabege AB on August 31, 2024 and sell it today you would lose (70.00) from holding Fabege AB or give up 0.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fabege AB vs. Atrium Ljungberg AB
Performance |
| Timeline |
| Fabege AB |
| Atrium Ljungberg |
Fabege AB and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fabege AB and Atrium Ljungberg
The main advantage of trading using opposite Fabege AB and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fabege AB position performs unexpectedly, Atrium Ljungberg 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 Atrium Ljungberg will offset losses from the drop in Atrium Ljungberg's long position.| Fabege AB vs. Castellum AB | Fabege AB vs. Fastighets AB Balder | Fabege AB vs. Wallenstam AB | Fabege AB vs. Hufvudstaden AB |
| Atrium Ljungberg vs. FastPartner AB | Atrium Ljungberg vs. Svolder AB | Atrium Ljungberg vs. Fastighets AB Balder | Atrium Ljungberg vs. Cibus Nordic Real |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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