Correlation Between Kiliaro AB and IZafe Group
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By analyzing existing cross correlation between Kiliaro AB and iZafe Group AB, you can compare the effects of market volatilities on Kiliaro AB and IZafe 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 Kiliaro AB with a short position of IZafe Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kiliaro AB and IZafe Group.
Diversification Opportunities for Kiliaro AB and IZafe Group
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kiliaro and IZafe is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Kiliaro AB and iZafe Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iZafe Group AB and Kiliaro AB 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 Kiliaro AB are associated (or correlated) with IZafe Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iZafe Group AB has no effect on the direction of Kiliaro AB i.e., Kiliaro AB and IZafe Group go up and down completely randomly.
Pair Corralation between Kiliaro AB and IZafe Group
Assuming the 90 days trading horizon Kiliaro AB is expected to under-perform the IZafe Group. In addition to that, Kiliaro AB is 1.57 times more volatile than iZafe Group AB. It trades about -0.05 of its total potential returns per unit of risk. iZafe Group AB is currently generating about 0.02 per unit of volatility. If you would invest 22.00 in iZafe Group AB on September 3, 2024 and sell it today you would lose (1.00) from holding iZafe Group AB or give up 4.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kiliaro AB vs. iZafe Group AB
Performance |
| Timeline |
| Kiliaro AB |
| iZafe Group AB |
Kiliaro AB and IZafe Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kiliaro AB and IZafe Group
The main advantage of trading using opposite Kiliaro AB and IZafe Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kiliaro AB position performs unexpectedly, IZafe 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 IZafe Group will offset losses from the drop in IZafe Group's long position.| Kiliaro AB vs. Lipigon Pharmaceuticals AB | Kiliaro AB vs. Ekobot AB | Kiliaro AB vs. iZafe Group AB | Kiliaro AB vs. ALM Equity AB |
| IZafe Group vs. Sprint Bioscience AB | IZafe Group vs. Acarix AS | IZafe Group vs. Annexin Pharmaceuticals AB | IZafe Group vs. KABE Group 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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