Correlation Between Garo AB and Ayima Group
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By analyzing existing cross correlation between Garo AB and Ayima Group AB, you can compare the effects of market volatilities on Garo AB and Ayima 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 Garo AB with a short position of Ayima Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Garo AB and Ayima Group.
Diversification Opportunities for Garo AB and Ayima Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Garo and Ayima is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Garo AB and Ayima Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ayima Group AB and Garo AB 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 Garo AB are associated (or correlated) with Ayima Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ayima Group AB has no effect on the direction of Garo AB i.e., Garo AB and Ayima Group go up and down completely randomly.
Pair Corralation between Garo AB and Ayima Group
Assuming the 90 days trading horizon Garo AB is expected to under-perform the Ayima Group. But the stock apears to be less risky and, when comparing its historical volatility, Garo AB is 1.92 times less risky than Ayima Group. The stock trades about -0.07 of its potential returns per unit of risk. The Ayima Group AB is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 302.00 in Ayima Group AB on September 12, 2024 and sell it today you would earn a total of 30.00 from holding Ayima Group AB or generate 9.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Garo AB vs. Ayima Group AB
Performance |
| Timeline |
| Garo AB |
| Ayima Group AB |
Garo AB and Ayima Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Garo AB and Ayima Group
The main advantage of trading using opposite Garo AB and Ayima Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Garo AB position performs unexpectedly, Ayima 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 Ayima Group will offset losses from the drop in Ayima Group's long position.| Garo AB vs. Troax Group AB | Garo AB vs. NIBE Industrier AB | Garo AB vs. Hexatronic Group AB | Garo AB vs. Bufab Holding AB |
| Ayima Group vs. Absolent Group AB | Ayima Group vs. Adventure Box Technology | Ayima Group vs. Enorama Pharma AB | Ayima Group vs. ALM Equity 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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