Correlation Between Kalleback Property and K2A Knaust
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By analyzing existing cross correlation between Kalleback Property Invest and K2A Knaust Andersson, you can compare the effects of market volatilities on Kalleback Property and K2A Knaust 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 Kalleback Property with a short position of K2A Knaust. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kalleback Property and K2A Knaust.
Diversification Opportunities for Kalleback Property and K2A Knaust
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kalleback and K2A is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Kalleback Property Invest and K2A Knaust Andersson in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on K2A Knaust Andersson and Kalleback Property 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 Kalleback Property Invest are associated (or correlated) with K2A Knaust. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of K2A Knaust Andersson has no effect on the direction of Kalleback Property i.e., Kalleback Property and K2A Knaust go up and down completely randomly.
Pair Corralation between Kalleback Property and K2A Knaust
Assuming the 90 days trading horizon Kalleback Property Invest is expected to generate 0.39 times more return on investment than K2A Knaust. However, Kalleback Property Invest is 2.55 times less risky than K2A Knaust. It trades about -0.05 of its potential returns per unit of risk. K2A Knaust Andersson is currently generating about -0.25 per unit of risk. If you would invest 17,900 in Kalleback Property Invest on August 31, 2024 and sell it today you would lose (100.00) from holding Kalleback Property Invest or give up 0.56% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kalleback Property Invest vs. K2A Knaust Andersson
Performance |
| Timeline |
| Kalleback Property Invest |
| K2A Knaust Andersson |
Kalleback Property and K2A Knaust Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kalleback Property and K2A Knaust
The main advantage of trading using opposite Kalleback Property and K2A Knaust positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kalleback Property position performs unexpectedly, K2A Knaust 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 K2A Knaust will offset losses from the drop in K2A Knaust's long position.| Kalleback Property vs. NP3 Fastigheter AB | Kalleback Property vs. Hufvudstaden AB | Kalleback Property vs. K2A Knaust Andersson | Kalleback Property vs. Cibus Nordic Real |
| K2A Knaust vs. Fastighets AB Balder | K2A Knaust vs. Fabege AB | K2A Knaust vs. Wihlborgs Fastigheter AB | K2A Knaust vs. Castellum 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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