Correlation Between FastPartner and Viaplay Group
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By analyzing existing cross correlation between FastPartner AB Series and Viaplay Group AB, you can compare the effects of market volatilities on FastPartner and Viaplay Group 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 FastPartner with a short position of Viaplay Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of FastPartner and Viaplay Group.
Diversification Opportunities for FastPartner and Viaplay Group
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between FastPartner and Viaplay is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding FastPartner AB Series and Viaplay Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viaplay Group AB and FastPartner 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 FastPartner AB Series are associated (or correlated) with Viaplay Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viaplay Group AB has no effect on the direction of FastPartner i.e., FastPartner and Viaplay Group go up and down completely randomly.
Pair Corralation between FastPartner and Viaplay Group
Assuming the 90 days trading horizon FastPartner AB Series is expected to generate 0.05 times more return on investment than Viaplay Group. However, FastPartner AB Series is 20.76 times less risky than Viaplay Group. It trades about 0.06 of its potential returns per unit of risk. Viaplay Group AB is currently generating about -0.1 per unit of risk. If you would invest 7,340 in FastPartner AB Series on September 3, 2024 and sell it today you would earn a total of 80.00 from holding FastPartner AB Series or generate 1.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
FastPartner AB Series vs. Viaplay Group AB
Performance |
| Timeline |
| FastPartner AB Series |
| Viaplay Group AB |
FastPartner and Viaplay Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FastPartner and Viaplay Group
The main advantage of trading using opposite FastPartner and Viaplay Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FastPartner position performs unexpectedly, Viaplay Group 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 Viaplay Group will offset losses from the drop in Viaplay Group's long position.| FastPartner vs. FastPartner AB | FastPartner vs. Samhaellsbyggnadsbolaget i Norden | FastPartner vs. AB Sagax | FastPartner vs. Atrium Ljungberg AB |
| Viaplay Group vs. Truecaller AB | Viaplay Group vs. Modern Times Group | Viaplay Group vs. Millicom International Cellular | Viaplay Group vs. Tele2 AB |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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