Correlation Between ISEQ 20 and KLP Aksje
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By analyzing existing cross correlation between ISEQ 20 Price and KLP Aksje Fremvoksende, you can compare the effects of market volatilities on ISEQ 20 and KLP Aksje 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 ISEQ 20 with a short position of KLP Aksje. Check out your portfolio center. Please also check ongoing floating volatility patterns of ISEQ 20 and KLP Aksje.
Diversification Opportunities for ISEQ 20 and KLP Aksje
Very good diversification
The 3 months correlation between ISEQ and KLP is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding ISEQ 20 Price and KLP Aksje Fremvoksende in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KLP Aksje Fremvoksende and ISEQ 20 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 ISEQ 20 Price are associated (or correlated) with KLP Aksje. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KLP Aksje Fremvoksende has no effect on the direction of ISEQ 20 i.e., ISEQ 20 and KLP Aksje go up and down completely randomly.
Pair Corralation between ISEQ 20 and KLP Aksje
Assuming the 90 days trading horizon ISEQ 20 is expected to generate 1.34 times less return on investment than KLP Aksje. In addition to that, ISEQ 20 is 1.04 times more volatile than KLP Aksje Fremvoksende. It trades about 0.03 of its total potential returns per unit of risk. KLP Aksje Fremvoksende is currently generating about 0.05 per unit of volatility. If you would invest 256,471 in KLP Aksje Fremvoksende on September 12, 2024 and sell it today you would earn a total of 38,207 from holding KLP Aksje Fremvoksende or generate 14.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ISEQ 20 Price vs. KLP Aksje Fremvoksende
Performance |
| Timeline |
ISEQ 20 and KLP Aksje Volatility Contrast
Predicted Return Density |
| Returns |
ISEQ 20 Price
Pair trading matchups for ISEQ 20
KLP Aksje Fremvoksende
Pair trading matchups for KLP Aksje
Pair Trading with ISEQ 20 and KLP Aksje
The main advantage of trading using opposite ISEQ 20 and KLP Aksje positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ISEQ 20 position performs unexpectedly, KLP Aksje 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 KLP Aksje will offset losses from the drop in KLP Aksje's long position.| ISEQ 20 vs. Cairn Homes PLC | ISEQ 20 vs. FD Technologies PLC | ISEQ 20 vs. Dalata Hotel Group | ISEQ 20 vs. Donegal Investment Group |
| KLP Aksje vs. KLP AksjeNorge Indeks | KLP Aksje vs. KLP AksjeGlobal Flerfaktor | KLP Aksje vs. KLP Aksje Fremvoksende | KLP Aksje vs. KLP AksjeEuropa Indeks |
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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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