Correlation Between KlaraBo Sverige and Logistea A
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By analyzing existing cross correlation between KlaraBo Sverige AB and Logistea A, you can compare the effects of market volatilities on KlaraBo Sverige and Logistea A 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 Logistea A. Check out your portfolio center. Please also check ongoing floating volatility patterns of KlaraBo Sverige and Logistea A.
Diversification Opportunities for KlaraBo Sverige and Logistea A
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between KlaraBo and Logistea is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding KlaraBo Sverige AB and Logistea A in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logistea A 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 Logistea A. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logistea A has no effect on the direction of KlaraBo Sverige i.e., KlaraBo Sverige and Logistea A go up and down completely randomly.
Pair Corralation between KlaraBo Sverige and Logistea A
Assuming the 90 days trading horizon KlaraBo Sverige AB is expected to under-perform the Logistea A. In addition to that, KlaraBo Sverige is 1.53 times more volatile than Logistea A. It trades about -0.13 of its total potential returns per unit of risk. Logistea A is currently generating about -0.08 per unit of volatility. If you would invest 1,565 in Logistea A on September 2, 2024 and sell it today you would lose (50.00) from holding Logistea A or give up 3.19% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
KlaraBo Sverige AB vs. Logistea A
Performance |
| Timeline |
| KlaraBo Sverige AB |
| Logistea A |
KlaraBo Sverige and Logistea A Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KlaraBo Sverige and Logistea A
The main advantage of trading using opposite KlaraBo Sverige and Logistea A positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KlaraBo Sverige position performs unexpectedly, Logistea A 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 Logistea A will offset losses from the drop in Logistea A's long position.| KlaraBo Sverige vs. JLT Mobile Computers | KlaraBo Sverige vs. G5 Entertainment publ | KlaraBo Sverige vs. Avanza Bank Holding | KlaraBo Sverige vs. 24SevenOffice Scandinavia AB |
| Logistea A vs. NetJobs Group AB | Logistea A vs. Mantex AB | Logistea A vs. Doxa AB | Logistea A vs. Clean Motion 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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