Correlation Between KABE Group and Viaplay Group
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By analyzing existing cross correlation between KABE Group AB and Viaplay Group AB, you can compare the effects of market volatilities on KABE Group and Viaplay 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 KABE Group with a short position of Viaplay Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of KABE Group and Viaplay Group.
Diversification Opportunities for KABE Group and Viaplay Group
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between KABE and Viaplay is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding KABE Group AB and Viaplay Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viaplay Group AB and KABE 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 KABE Group AB are associated (or correlated) with Viaplay Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viaplay Group AB has no effect on the direction of KABE Group i.e., KABE Group and Viaplay Group go up and down completely randomly.
Pair Corralation between KABE Group and Viaplay Group
Assuming the 90 days trading horizon KABE Group AB is expected to generate 0.17 times more return on investment than Viaplay Group. However, KABE Group AB is 5.81 times less risky than Viaplay Group. It trades about 0.06 of its potential returns per unit of risk. Viaplay Group AB is currently generating about -0.04 per unit of risk. If you would invest 19,135 in KABE Group AB on September 3, 2024 and sell it today you would earn a total of 10,765 from holding KABE Group AB or generate 56.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
KABE Group AB vs. Viaplay Group AB
Performance |
| Timeline |
| KABE Group AB |
| Viaplay Group AB |
KABE Group and Viaplay Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KABE Group and Viaplay Group
The main advantage of trading using opposite KABE Group and Viaplay Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KABE Group position performs unexpectedly, Viaplay 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 Viaplay Group will offset losses from the drop in Viaplay Group's long position.| KABE Group vs. Byggmax Group AB | KABE Group vs. Svedbergs i Dalstorp | KABE Group vs. Inwido AB | KABE Group vs. New Wave Group |
| Viaplay Group vs. Truecaller AB | Viaplay Group vs. Modern Times Group | Viaplay Group vs. Millicom International Cellular | Viaplay Group vs. Tele2 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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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