Correlation Between Integrum and Rolling Optics
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By analyzing existing cross correlation between Integrum AB Series and Rolling Optics Holding, you can compare the effects of market volatilities on Integrum and Rolling Optics 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 Rolling Optics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrum and Rolling Optics.
Diversification Opportunities for Integrum and Rolling Optics
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Integrum and Rolling is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Integrum AB Series and Rolling Optics Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rolling Optics Holding 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 Rolling Optics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rolling Optics Holding has no effect on the direction of Integrum i.e., Integrum and Rolling Optics go up and down completely randomly.
Pair Corralation between Integrum and Rolling Optics
Assuming the 90 days trading horizon Integrum AB Series is expected to under-perform the Rolling Optics. But the stock apears to be less risky and, when comparing its historical volatility, Integrum AB Series is 1.59 times less risky than Rolling Optics. The stock trades about -0.26 of its potential returns per unit of risk. The Rolling Optics Holding is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 70.00 in Rolling Optics Holding on September 1, 2024 and sell it today you would lose (2.00) from holding Rolling Optics Holding or give up 2.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrum AB Series vs. Rolling Optics Holding
Performance |
| Timeline |
| Integrum AB Series |
| Rolling Optics Holding |
Integrum and Rolling Optics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrum and Rolling Optics
The main advantage of trading using opposite Integrum and Rolling Optics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrum position performs unexpectedly, Rolling Optics 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 Rolling Optics will offset losses from the drop in Rolling Optics' long position.| Integrum vs. AddLife AB | Integrum vs. Biotage AB | Integrum vs. Synsam AB | Integrum vs. Bonesupport Holding AB |
| Rolling Optics vs. Zwipe AS | Rolling Optics vs. Zaplox AB | Rolling Optics vs. XMReality AB | Rolling Optics vs. Ratos 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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