Correlation Between F SECURE and Exel Composites
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By analyzing existing cross correlation between F SECURE OYJ and Exel Composites Oyj, you can compare the effects of market volatilities on F SECURE and Exel Composites 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 F SECURE with a short position of Exel Composites. Check out your portfolio center. Please also check ongoing floating volatility patterns of F SECURE and Exel Composites.
Diversification Opportunities for F SECURE and Exel Composites
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between FSECURE and Exel is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding F SECURE OYJ and Exel Composites Oyj in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Exel Composites Oyj and F SECURE 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 F SECURE OYJ are associated (or correlated) with Exel Composites. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exel Composites Oyj has no effect on the direction of F SECURE i.e., F SECURE and Exel Composites go up and down completely randomly.
Pair Corralation between F SECURE and Exel Composites
Assuming the 90 days trading horizon F SECURE OYJ is expected to generate 0.83 times more return on investment than Exel Composites. However, F SECURE OYJ is 1.2 times less risky than Exel Composites. It trades about -0.22 of its potential returns per unit of risk. Exel Composites Oyj is currently generating about -0.45 per unit of risk. 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 |
F SECURE OYJ vs. Exel Composites Oyj
Performance |
| Timeline |
| F SECURE OYJ |
| Exel Composites Oyj |
F SECURE and Exel Composites Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with F SECURE and Exel Composites
The main advantage of trading using opposite F SECURE and Exel Composites positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if F SECURE position performs unexpectedly, Exel Composites 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 Exel Composites will offset losses from the drop in Exel Composites' long position.| F SECURE vs. Trainers House Oyj | F SECURE vs. Detection Technology OY | F SECURE vs. Reka Industrial Oyj | F SECURE vs. Aiforia Technologies Oyj |
| Exel Composites vs. Aktia Bank Abp | Exel Composites vs. Alandsbanken Abp B | Exel Composites vs. Alandsbanken Abp A | Exel Composites vs. Sampo Oyj A |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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