Correlation Between Fodelia and Oma Saastopankki
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By analyzing existing cross correlation between Fodelia and Oma Saastopankki Oyj, you can compare the effects of market volatilities on Fodelia and Oma Saastopankki 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 Fodelia with a short position of Oma Saastopankki. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fodelia and Oma Saastopankki.
Diversification Opportunities for Fodelia and Oma Saastopankki
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fodelia and Oma is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fodelia and Oma Saastopankki Oyj in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oma Saastopankki Oyj and Fodelia 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 Fodelia are associated (or correlated) with Oma Saastopankki. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oma Saastopankki Oyj has no effect on the direction of Fodelia i.e., Fodelia and Oma Saastopankki go up and down completely randomly.
Pair Corralation between Fodelia and Oma Saastopankki
If you would invest 0.00 in Fodelia on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Fodelia or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Fodelia vs. Oma Saastopankki Oyj
Performance |
| Timeline |
| Fodelia |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
| Oma Saastopankki Oyj |
Fodelia and Oma Saastopankki Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fodelia and Oma Saastopankki
The main advantage of trading using opposite Fodelia and Oma Saastopankki positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fodelia position performs unexpectedly, Oma Saastopankki 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 Oma Saastopankki will offset losses from the drop in Oma Saastopankki's long position.| Fodelia vs. Reka Industrial Oyj | Fodelia vs. HKFoods Oyj A | Fodelia vs. Alma Media Oyj | Fodelia vs. Nordea Bank Abp |
| Oma Saastopankki vs. Kamux Suomi Oy | Oma Saastopankki vs. Harvia Oyj | Oma Saastopankki vs. TietoEVRY Corp | Oma Saastopankki vs. Tokmanni Group 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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