Correlation Between Image Systems and Ayima Group
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By analyzing existing cross correlation between Image Systems AB and Ayima Group AB, you can compare the effects of market volatilities on Image Systems and Ayima Group 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 Image Systems with a short position of Ayima Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Image Systems and Ayima Group.
Diversification Opportunities for Image Systems and Ayima Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Image and Ayima is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Image Systems AB and Ayima Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ayima Group AB and Image Systems 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 Image Systems AB are associated (or correlated) with Ayima Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ayima Group AB has no effect on the direction of Image Systems i.e., Image Systems and Ayima Group go up and down completely randomly.
Pair Corralation between Image Systems and Ayima Group
Assuming the 90 days horizon Image Systems AB is expected to generate 0.62 times more return on investment than Ayima Group. However, Image Systems AB is 1.61 times less risky than Ayima Group. It trades about 0.06 of its potential returns per unit of risk. Ayima Group AB is currently generating about 0.03 per unit of risk. If you would invest 133.00 in Image Systems AB on September 12, 2024 and sell it today you would earn a total of 84.00 from holding Image Systems AB or generate 63.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Image Systems AB vs. Ayima Group AB
Performance |
| Timeline |
| Image Systems AB |
| Ayima Group AB |
Image Systems and Ayima Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Image Systems and Ayima Group
The main advantage of trading using opposite Image Systems and Ayima Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Image Systems position performs unexpectedly, Ayima Group 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 Ayima Group will offset losses from the drop in Ayima Group's long position.| Image Systems vs. AB SKF | Image Systems vs. Tele2 AB | Image Systems vs. Sandvik AB | Image Systems vs. Skanska AB |
| Ayima Group vs. Absolent Group AB | Ayima Group vs. Adventure Box Technology | Ayima Group vs. Enorama Pharma AB | Ayima Group vs. ALM Equity 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 CEOs Directory module to screen CEOs from public companies around the world.
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