Correlation Between Inwido AB and Autoliv
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By analyzing existing cross correlation between Inwido AB and Autoliv, you can compare the effects of market volatilities on Inwido AB and Autoliv 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 Inwido AB with a short position of Autoliv. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inwido AB and Autoliv.
Diversification Opportunities for Inwido AB and Autoliv
Modest diversification
The 3 months correlation between Inwido and Autoliv is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Inwido AB and Autoliv in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Autoliv and Inwido AB 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 Inwido AB are associated (or correlated) with Autoliv. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Autoliv has no effect on the direction of Inwido AB i.e., Inwido AB and Autoliv go up and down completely randomly.
Pair Corralation between Inwido AB and Autoliv
Assuming the 90 days trading horizon Inwido AB is expected to generate 1.04 times more return on investment than Autoliv. However, Inwido AB is 1.04 times more volatile than Autoliv. It trades about 0.09 of its potential returns per unit of risk. Autoliv is currently generating about 0.01 per unit of risk. If you would invest 12,582 in Inwido AB on August 29, 2024 and sell it today you would earn a total of 5,648 from holding Inwido AB or generate 44.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Inwido AB vs. Autoliv
Performance |
| Timeline |
| Inwido AB |
| Autoliv |
Inwido AB and Autoliv Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inwido AB and Autoliv
The main advantage of trading using opposite Inwido AB and Autoliv positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inwido AB position performs unexpectedly, Autoliv 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 Autoliv will offset losses from the drop in Autoliv's long position.| Inwido AB vs. Upsales Technology AB | Inwido AB vs. OptiCept Technologies AB | Inwido AB vs. Filo Mining Corp | Inwido AB vs. Nordic Iron Ore |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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