Correlation Between Gabriel Holding and LUXOR-B
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By analyzing existing cross correlation between Gabriel Holding and Investeringsselskabet Luxor AS, you can compare the effects of market volatilities on Gabriel Holding and LUXOR-B 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 Gabriel Holding with a short position of LUXOR-B. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gabriel Holding and LUXOR-B.
Diversification Opportunities for Gabriel Holding and LUXOR-B
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Gabriel and LUXOR-B is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Gabriel Holding and Investeringsselskabet Luxor AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsselskabet and Gabriel Holding 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 Gabriel Holding are associated (or correlated) with LUXOR-B. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsselskabet has no effect on the direction of Gabriel Holding i.e., Gabriel Holding and LUXOR-B go up and down completely randomly.
Pair Corralation between Gabriel Holding and LUXOR-B
Assuming the 90 days trading horizon Gabriel Holding is expected to under-perform the LUXOR-B. In addition to that, Gabriel Holding is 1.12 times more volatile than Investeringsselskabet Luxor AS. It trades about -0.08 of its total potential returns per unit of risk. Investeringsselskabet Luxor AS is currently generating about -0.04 per unit of volatility. If you would invest 86,000 in Investeringsselskabet Luxor AS on August 27, 2024 and sell it today you would lose (30,500) from holding Investeringsselskabet Luxor AS or give up 35.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gabriel Holding vs. Investeringsselskabet Luxor AS
Performance |
| Timeline |
| Gabriel Holding |
| Investeringsselskabet |
Gabriel Holding and LUXOR-B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gabriel Holding and LUXOR-B
The main advantage of trading using opposite Gabriel Holding and LUXOR-B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gabriel Holding position performs unexpectedly, LUXOR-B 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 LUXOR-B will offset losses from the drop in LUXOR-B's long position.| Gabriel Holding vs. SP Group AS | Gabriel Holding vs. Columbus AS | Gabriel Holding vs. Schouw Co | Gabriel Holding vs. RTX AS |
| LUXOR-B vs. Skjern Bank AS | LUXOR-B vs. Groenlandsbanken AS | LUXOR-B vs. Fynske Bank AS | LUXOR-B vs. Lollands Bank |
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 Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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