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 -0.58. 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. But the stock apears to be less risky and, when comparing its historical volatility, Integrum AB Series is 1.89 times less risky than BIMobject. The stock trades about -0.11 of its potential returns per unit of risk. The BIMobject AB is currently generating about 0.38 of returns per unit of risk over similar time horizon. If you would invest 435.00 in BIMobject AB on November 8, 2024 and sell it today you would earn a total of 159.00 from holding BIMobject AB or generate 36.55% 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. Surgical Science Sweden | Integrum vs. Cantargia AB | Integrum vs. C Rad AB | Integrum vs. Bonesupport Holding AB |
| BIMobject vs. G5 Entertainment publ | BIMobject vs. Bambuser AB | BIMobject vs. Catena Media plc | BIMobject vs. Crunchfish 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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