Correlation Between Integrum and BIMobject
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By analyzing existing cross correlation between Integrum AB Series and BIMobject AB, you can compare the effects of market volatilities on Integrum and BIMobject 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 Integrum with a short position of BIMobject. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrum and BIMobject.
Diversification Opportunities for Integrum and BIMobject
Excellent diversification
The 3 months correlation between Integrum and BIMobject is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Integrum AB Series and BIMobject AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIMobject AB and Integrum 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 Integrum AB Series are associated (or correlated) with BIMobject. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BIMobject AB has no effect on the direction of Integrum i.e., Integrum and BIMobject go up and down completely randomly.
Pair Corralation between Integrum and BIMobject
Assuming the 90 days trading horizon Integrum AB Series is expected to under-perform the BIMobject. In addition to that, Integrum is 1.61 times more volatile than BIMobject AB. It trades about -0.26 of its total potential returns per unit of risk. BIMobject AB is currently generating about 0.03 per unit of volatility. If you would invest 450.00 in BIMobject AB on September 1, 2024 and sell it today you would earn a total of 3.00 from holding BIMobject AB or generate 0.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrum AB Series vs. BIMobject AB
Performance |
| Timeline |
| Integrum AB Series |
| BIMobject AB |
Integrum and BIMobject Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrum and BIMobject
The main advantage of trading using opposite Integrum and BIMobject positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrum position performs unexpectedly, BIMobject 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 BIMobject will offset losses from the drop in BIMobject's long position.| Integrum vs. AddLife AB | Integrum vs. Biotage AB | Integrum vs. Synsam AB | Integrum vs. Bonesupport Holding AB |
| BIMobject vs. G5 Entertainment publ | BIMobject vs. Catena Media plc | BIMobject vs. Crunchfish AB | BIMobject vs. FormPipe Software 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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