Correlation Between Integrum and Corline Biomedical
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By analyzing existing cross correlation between Integrum AB Series and Corline Biomedical AB, you can compare the effects of market volatilities on Integrum and Corline Biomedical 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 Corline Biomedical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrum and Corline Biomedical.
Diversification Opportunities for Integrum and Corline Biomedical
-0.89 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Integrum and Corline is -0.89. Overlapping area represents the amount of risk that can be diversified away by holding Integrum AB Series and Corline Biomedical AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corline Biomedical 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 Corline Biomedical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corline Biomedical has no effect on the direction of Integrum i.e., Integrum and Corline Biomedical go up and down completely randomly.
Pair Corralation between Integrum and Corline Biomedical
Assuming the 90 days trading horizon Integrum AB Series is expected to under-perform the Corline Biomedical. In addition to that, Integrum is 1.19 times more volatile than Corline Biomedical AB. It trades about -0.07 of its total potential returns per unit of risk. Corline Biomedical AB is currently generating about -0.02 per unit of volatility. If you would invest 1,420 in Corline Biomedical AB on November 8, 2024 and sell it today you would lose (405.00) from holding Corline Biomedical AB or give up 28.52% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Integrum AB Series vs. Corline Biomedical AB
Performance |
| Timeline |
| Integrum AB Series |
| Corline Biomedical |
Integrum and Corline Biomedical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrum and Corline Biomedical
The main advantage of trading using opposite Integrum and Corline Biomedical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrum position performs unexpectedly, Corline Biomedical 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 Corline Biomedical will offset losses from the drop in Corline Biomedical's long position.| Integrum vs. Surgical Science Sweden | Integrum vs. Cantargia AB | Integrum vs. C Rad AB | Integrum vs. Bonesupport Holding AB |
| Corline Biomedical vs. Cantargia AB | Corline Biomedical vs. Kancera AB | Corline Biomedical vs. Gabather AB | Corline Biomedical vs. Genovis 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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