Correlation Between G5 Entertainment and KlaraBo Sverige
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By analyzing existing cross correlation between G5 Entertainment publ and KlaraBo Sverige AB, you can compare the effects of market volatilities on G5 Entertainment and KlaraBo Sverige 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 G5 Entertainment with a short position of KlaraBo Sverige. Check out your portfolio center. Please also check ongoing floating volatility patterns of G5 Entertainment and KlaraBo Sverige.
Diversification Opportunities for G5 Entertainment and KlaraBo Sverige
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between G5EN and KlaraBo is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding G5 Entertainment publ and KlaraBo Sverige AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KlaraBo Sverige AB and G5 Entertainment 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 G5 Entertainment publ are associated (or correlated) with KlaraBo Sverige. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KlaraBo Sverige AB has no effect on the direction of G5 Entertainment i.e., G5 Entertainment and KlaraBo Sverige go up and down completely randomly.
Pair Corralation between G5 Entertainment and KlaraBo Sverige
Assuming the 90 days trading horizon G5 Entertainment publ is expected to under-perform the KlaraBo Sverige. In addition to that, G5 Entertainment is 1.18 times more volatile than KlaraBo Sverige AB. It trades about -0.07 of its total potential returns per unit of risk. KlaraBo Sverige AB is currently generating about -0.02 per unit of volatility. If you would invest 1,998 in KlaraBo Sverige AB on September 3, 2024 and sell it today you would lose (118.00) from holding KlaraBo Sverige AB or give up 5.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G5 Entertainment publ vs. KlaraBo Sverige AB
Performance |
| Timeline |
| G5 Entertainment publ |
| KlaraBo Sverige AB |
G5 Entertainment and KlaraBo Sverige Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G5 Entertainment and KlaraBo Sverige
The main advantage of trading using opposite G5 Entertainment and KlaraBo Sverige positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G5 Entertainment position performs unexpectedly, KlaraBo Sverige 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 KlaraBo Sverige will offset losses from the drop in KlaraBo Sverige's long position.| G5 Entertainment vs. Stillfront Group AB | G5 Entertainment vs. Paradox Interactive AB | G5 Entertainment vs. Catena Media plc | G5 Entertainment vs. Betsson AB |
| KlaraBo Sverige vs. Cibus Nordic Real | KlaraBo Sverige vs. ALM Equity AB | KlaraBo Sverige vs. Castellum 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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