Correlation Between Idogen AB and Arion Banki
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By analyzing existing cross correlation between Idogen AB and Arion banki hf, you can compare the effects of market volatilities on Idogen AB and Arion Banki 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 Idogen AB with a short position of Arion Banki. Check out your portfolio center. Please also check ongoing floating volatility patterns of Idogen AB and Arion Banki.
Diversification Opportunities for Idogen AB and Arion Banki
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Idogen and Arion is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Idogen AB and Arion banki hf in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arion banki hf and Idogen 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 Idogen AB are associated (or correlated) with Arion Banki. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arion banki hf has no effect on the direction of Idogen AB i.e., Idogen AB and Arion Banki go up and down completely randomly.
Pair Corralation between Idogen AB and Arion Banki
If you would invest 1,010 in Arion banki hf on September 3, 2024 and sell it today you would earn a total of 230.00 from holding Arion banki hf or generate 22.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Idogen AB vs. Arion banki hf
Performance |
| Timeline |
| Idogen AB |
| Arion banki hf |
Idogen AB and Arion Banki Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Idogen AB and Arion Banki
The main advantage of trading using opposite Idogen AB and Arion Banki positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Idogen AB position performs unexpectedly, Arion Banki 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 Arion Banki will offset losses from the drop in Arion Banki's long position.| Idogen AB vs. Simris Alg AB | Idogen AB vs. Immunovia publ AB | Idogen AB vs. Sedana Medical AB | Idogen AB vs. KABE Group AB |
| Arion Banki vs. Atrium Ljungberg AB | Arion Banki vs. Arjo AB | Arion Banki vs. Bravida Holding AB | Arion Banki vs. Avanza Bank Holding |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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