Correlation Between FD Technologies and Storebrand Global
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By analyzing existing cross correlation between FD Technologies PLC and Storebrand Global Solutions, you can compare the effects of market volatilities on FD Technologies and Storebrand Global 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 FD Technologies with a short position of Storebrand Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of FD Technologies and Storebrand Global.
Diversification Opportunities for FD Technologies and Storebrand Global
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GYQ and Storebrand is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding FD Technologies PLC and Storebrand Global Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Storebrand Global and FD Technologies 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 FD Technologies PLC are associated (or correlated) with Storebrand Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Storebrand Global has no effect on the direction of FD Technologies i.e., FD Technologies and Storebrand Global go up and down completely randomly.
Pair Corralation between FD Technologies and Storebrand Global
If you would invest 233,405 in Storebrand Global Solutions on November 7, 2024 and sell it today you would earn a total of 2,328 from holding Storebrand Global Solutions or generate 1.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
FD Technologies PLC vs. Storebrand Global Solutions
Performance |
| Timeline |
| FD Technologies PLC |
| Storebrand Global |
FD Technologies and Storebrand Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FD Technologies and Storebrand Global
The main advantage of trading using opposite FD Technologies and Storebrand Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FD Technologies position performs unexpectedly, Storebrand Global 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 Storebrand Global will offset losses from the drop in Storebrand Global's long position.| FD Technologies vs. Datalex | FD Technologies vs. Ryanair Holdings plc | FD Technologies vs. Bank of Ireland | FD Technologies vs. Cairn Homes PLC |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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