Correlation Between IZafe Group and Idogen AB
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By analyzing existing cross correlation between iZafe Group AB and Idogen AB, you can compare the effects of market volatilities on IZafe Group and Idogen AB 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 Idogen AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of IZafe Group and Idogen AB.
Diversification Opportunities for IZafe Group and Idogen AB
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IZafe and Idogen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding iZafe Group AB and Idogen AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Idogen 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 Idogen AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Idogen AB has no effect on the direction of IZafe Group i.e., IZafe Group and Idogen AB go up and down completely randomly.
Pair Corralation between IZafe Group and Idogen AB
If you would invest 23.00 in iZafe Group AB on September 1, 2024 and sell it today you would lose (2.00) from holding iZafe Group AB or give up 8.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.22% |
| Values | Daily Returns |
iZafe Group AB vs. Idogen AB
Performance |
| Timeline |
| iZafe Group AB |
| Idogen AB |
IZafe Group and Idogen AB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IZafe Group and Idogen AB
The main advantage of trading using opposite IZafe Group and Idogen AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IZafe Group position performs unexpectedly, Idogen AB 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 Idogen AB will offset losses from the drop in Idogen AB's long position.| IZafe Group vs. Sprint Bioscience AB | IZafe Group vs. Acarix AS | IZafe Group vs. Annexin Pharmaceuticals 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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