Correlation Between IZafe Group and Alcadon Group
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By analyzing existing cross correlation between iZafe Group AB and Alcadon Group AB, you can compare the effects of market volatilities on IZafe Group and Alcadon 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 IZafe Group with a short position of Alcadon Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of IZafe Group and Alcadon Group.
Diversification Opportunities for IZafe Group and Alcadon Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IZafe and Alcadon is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding iZafe Group AB and Alcadon Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alcadon Group AB and IZafe Group 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 iZafe Group AB are associated (or correlated) with Alcadon Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alcadon Group AB has no effect on the direction of IZafe Group i.e., IZafe Group and Alcadon Group go up and down completely randomly.
Pair Corralation between IZafe Group and Alcadon Group
If you would invest 22.00 in iZafe Group AB on November 2, 2024 and sell it today you would earn a total of 2.00 from holding iZafe Group AB or generate 9.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.69% |
| Values | Daily Returns |
iZafe Group AB vs. Alcadon Group AB
Performance |
| Timeline |
| iZafe Group AB |
| Alcadon Group AB |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
IZafe Group and Alcadon Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IZafe Group and Alcadon Group
The main advantage of trading using opposite IZafe Group and Alcadon Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IZafe Group position performs unexpectedly, Alcadon 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 Alcadon Group will offset losses from the drop in Alcadon Group's long position.| IZafe Group vs. Sprint Bioscience AB | IZafe Group vs. Acarix AS | IZafe Group vs. Annexin Pharmaceuticals AB |
| Alcadon Group vs. DistIT AB | Alcadon Group vs. Addnode Group AB | Alcadon Group vs. Awardit AB | Alcadon Group vs. Avensia publ 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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