Correlation Between K Fast and Fastighets
Specify exactly 2 symbols:
By analyzing existing cross correlation between K Fast Holding AB and Fastighets AB Balder, you can compare the effects of market volatilities on K Fast and Fastighets 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 K Fast with a short position of Fastighets. Check out your portfolio center. Please also check ongoing floating volatility patterns of K Fast and Fastighets.
Diversification Opportunities for K Fast and Fastighets
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between KFAST-B and Fastighets is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding K Fast Holding AB and Fastighets AB Balder in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fastighets AB Balder and K Fast 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 K Fast Holding AB are associated (or correlated) with Fastighets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fastighets AB Balder has no effect on the direction of K Fast i.e., K Fast and Fastighets go up and down completely randomly.
Pair Corralation between K Fast and Fastighets
Assuming the 90 days trading horizon K Fast Holding AB is expected to under-perform the Fastighets. But the stock apears to be less risky and, when comparing its historical volatility, K Fast Holding AB is 1.2 times less risky than Fastighets. The stock trades about -0.12 of its potential returns per unit of risk. The Fastighets AB Balder is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 7,696 in Fastighets AB Balder on November 3, 2024 and sell it today you would earn a total of 224.00 from holding Fastighets AB Balder or generate 2.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
K Fast Holding AB vs. Fastighets AB Balder
Performance |
| Timeline |
| K Fast Holding |
| Fastighets AB Balder |
K Fast and Fastighets Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with K Fast and Fastighets
The main advantage of trading using opposite K Fast and Fastighets positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if K Fast position performs unexpectedly, Fastighets 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 Fastighets will offset losses from the drop in Fastighets' long position.| K Fast vs. Fastighets AB Balder | K Fast vs. Nyfosa AB | K Fast vs. Dios Fastigheter AB | K Fast vs. Corem Property Group |
| Fastighets vs. Castellum AB | Fastighets vs. Fabege AB | Fastighets vs. AB Sagax | Fastighets vs. Wallenstam 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.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |