Correlation Between Integrum and Dignitana
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By analyzing existing cross correlation between Integrum AB Series and Dignitana AB, you can compare the effects of market volatilities on Integrum and Dignitana 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 Dignitana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrum and Dignitana.
Diversification Opportunities for Integrum and Dignitana
Very good diversification
The 3 months correlation between Integrum and Dignitana is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Integrum AB Series and Dignitana AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dignitana 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 Dignitana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dignitana AB has no effect on the direction of Integrum i.e., Integrum and Dignitana go up and down completely randomly.
Pair Corralation between Integrum and Dignitana
Assuming the 90 days trading horizon Integrum AB Series is expected to generate 0.43 times more return on investment than Dignitana. However, Integrum AB Series is 2.32 times less risky than Dignitana. It trades about -0.29 of its potential returns per unit of risk. Dignitana AB is currently generating about -0.19 per unit of risk. If you would invest 2,680 in Integrum AB Series on August 24, 2024 and sell it today you would lose (430.00) from holding Integrum AB Series or give up 16.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrum AB Series vs. Dignitana AB
Performance |
| Timeline |
| Integrum AB Series |
| Dignitana AB |
Integrum and Dignitana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrum and Dignitana
The main advantage of trading using opposite Integrum and Dignitana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrum position performs unexpectedly, Dignitana 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 Dignitana will offset losses from the drop in Dignitana's long position.| Integrum vs. Surgical Science Sweden | Integrum vs. Cantargia AB | Integrum vs. C Rad AB | Integrum vs. Bonesupport Holding AB |
| Dignitana vs. C Rad AB | Dignitana vs. Paxman AB | Dignitana vs. Enzymatica publ AB | Dignitana vs. Episurf Medical 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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