Correlation Between KlaraBo Sverige and Arctic Blue
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By analyzing existing cross correlation between KlaraBo Sverige AB and Arctic Blue Beverages, you can compare the effects of market volatilities on KlaraBo Sverige and Arctic Blue 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 KlaraBo Sverige with a short position of Arctic Blue. Check out your portfolio center. Please also check ongoing floating volatility patterns of KlaraBo Sverige and Arctic Blue.
Diversification Opportunities for KlaraBo Sverige and Arctic Blue
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between KlaraBo and Arctic is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding KlaraBo Sverige AB and Arctic Blue Beverages in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arctic Blue Beverages and KlaraBo Sverige 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 KlaraBo Sverige AB are associated (or correlated) with Arctic Blue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arctic Blue Beverages has no effect on the direction of KlaraBo Sverige i.e., KlaraBo Sverige and Arctic Blue go up and down completely randomly.
Pair Corralation between KlaraBo Sverige and Arctic Blue
Assuming the 90 days trading horizon KlaraBo Sverige AB is expected to generate 0.92 times more return on investment than Arctic Blue. However, KlaraBo Sverige AB is 1.08 times less risky than Arctic Blue. It trades about -0.12 of its potential returns per unit of risk. Arctic Blue Beverages is currently generating about -0.46 per unit of risk. If you would invest 2,070 in KlaraBo Sverige AB on September 1, 2024 and sell it today you would lose (154.00) from holding KlaraBo Sverige AB or give up 7.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
KlaraBo Sverige AB vs. Arctic Blue Beverages
Performance |
| Timeline |
| KlaraBo Sverige AB |
| Arctic Blue Beverages |
KlaraBo Sverige and Arctic Blue Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KlaraBo Sverige and Arctic Blue
The main advantage of trading using opposite KlaraBo Sverige and Arctic Blue positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KlaraBo Sverige position performs unexpectedly, Arctic Blue 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 Arctic Blue will offset losses from the drop in Arctic Blue's long position.| KlaraBo Sverige vs. Fastighets AB Balder | KlaraBo Sverige vs. Fabege AB | KlaraBo Sverige vs. Wihlborgs Fastigheter AB | KlaraBo Sverige vs. Castellum AB |
| Arctic Blue vs. Viva Wine Group | Arctic Blue vs. KABE Group AB | Arctic Blue vs. IAR Systems Group | Arctic Blue vs. Norva24 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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