Correlation Between Havsfrun Investment and Implantica

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Havsfrun Investment and Implantica at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Havsfrun Investment and Implantica into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Havsfrun Investment AB and Implantica AG, you can compare the effects of market volatilities on Havsfrun Investment and Implantica 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 Havsfrun Investment with a short position of Implantica. Check out your portfolio center. Please also check ongoing floating volatility patterns of Havsfrun Investment and Implantica.

Diversification Opportunities for Havsfrun Investment and Implantica

-0.66
  Correlation Coefficient

Excellent diversification

The 3 months correlation between Havsfrun and Implantica is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Havsfrun Investment AB and Implantica AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Implantica AG and Havsfrun Investment 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 Havsfrun Investment AB are associated (or correlated) with Implantica. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Implantica AG has no effect on the direction of Havsfrun Investment i.e., Havsfrun Investment and Implantica go up and down completely randomly.

Pair Corralation between Havsfrun Investment and Implantica

Assuming the 90 days trading horizon Havsfrun Investment AB is expected to generate 0.87 times more return on investment than Implantica. However, Havsfrun Investment AB is 1.15 times less risky than Implantica. It trades about 0.22 of its potential returns per unit of risk. Implantica AG is currently generating about -0.15 per unit of risk. If you would invest  1,185  in Havsfrun Investment AB on August 29, 2024 and sell it today you would earn a total of  170.00  from holding Havsfrun Investment AB or generate 14.35% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Havsfrun Investment AB  vs.  Implantica AG

 Performance 
       Timeline  
Havsfrun Investment 

Risk-Adjusted Performance

8 of 100

 
Weak
 
Strong
OK
Compared to the overall equity markets, risk-adjusted returns on investments in Havsfrun Investment AB are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, Havsfrun Investment unveiled solid returns over the last few months and may actually be approaching a breakup point.
Implantica AG 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Implantica AG has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in December 2024. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Havsfrun Investment and Implantica Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Havsfrun Investment and Implantica

The main advantage of trading using opposite Havsfrun Investment and Implantica positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Havsfrun Investment position performs unexpectedly, Implantica 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 Implantica will offset losses from the drop in Implantica's long position.
Havsfrun Investment vs. NAXS Nordic Access
Havsfrun Investment vs. FormPipe Software AB
Havsfrun Investment vs. Novotek AB
Havsfrun Investment vs. KABE Group AB
The idea behind Havsfrun Investment AB and Implantica AG pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
Implantica vs. KABE Group AB
Implantica vs. IAR Systems Group
Implantica vs. Mekonomen AB
Implantica vs. Clinical Laserthermia Systems
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.

Other Complementary Tools

Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital
Volatility Analysis
Get historical volatility and risk analysis based on latest market data
Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
USA ETFs
Find actively traded Exchange Traded Funds (ETF) in USA
Competition Analyzer
Analyze and compare many basic indicators for a group of related or unrelated entities


 
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY