Correlation Between Greater Than and Integrum
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By analyzing existing cross correlation between Greater Than AB and Integrum AB Series, you can compare the effects of market volatilities on Greater Than and Integrum 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 Greater Than with a short position of Integrum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Greater Than and Integrum.
Diversification Opportunities for Greater Than and Integrum
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Greater and Integrum is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Greater Than AB and Integrum AB Series in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrum AB Series and Greater Than 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 Greater Than AB are associated (or correlated) with Integrum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrum AB Series has no effect on the direction of Greater Than i.e., Greater Than and Integrum go up and down completely randomly.
Pair Corralation between Greater Than and Integrum
Assuming the 90 days trading horizon Greater Than AB is expected to generate 1.25 times more return on investment than Integrum. However, Greater Than is 1.25 times more volatile than Integrum AB Series. It trades about -0.03 of its potential returns per unit of risk. Integrum AB Series is currently generating about -0.07 per unit of risk. If you would invest 6,780 in Greater Than AB on November 8, 2024 and sell it today you would lose (3,380) from holding Greater Than AB or give up 49.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Greater Than AB vs. Integrum AB Series
Performance |
| Timeline |
| Greater Than AB |
| Integrum AB Series |
Greater Than and Integrum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Greater Than and Integrum
The main advantage of trading using opposite Greater Than and Integrum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Greater Than position performs unexpectedly, Integrum 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 Integrum will offset losses from the drop in Integrum's long position.| Greater Than vs. Kancera AB | Greater Than vs. Terranet AB | Greater Than vs. Divio Technologies AB | Greater Than vs. Cantargia AB |
| Integrum vs. Surgical Science Sweden | Integrum vs. Cantargia AB | Integrum vs. C Rad AB | Integrum vs. Bonesupport Holding 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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