Correlation Between Konsolidator and PF Atlantic
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By analyzing existing cross correlation between Konsolidator AS and PF Atlantic Petroleum, you can compare the effects of market volatilities on Konsolidator and PF Atlantic 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 Konsolidator with a short position of PF Atlantic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Konsolidator and PF Atlantic.
Diversification Opportunities for Konsolidator and PF Atlantic
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Konsolidator and ATLA-DKK is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Konsolidator AS and PF Atlantic Petroleum in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PF Atlantic Petroleum and Konsolidator 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 Konsolidator AS are associated (or correlated) with PF Atlantic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PF Atlantic Petroleum has no effect on the direction of Konsolidator i.e., Konsolidator and PF Atlantic go up and down completely randomly.
Pair Corralation between Konsolidator and PF Atlantic
Assuming the 90 days trading horizon Konsolidator AS is expected to generate 0.91 times more return on investment than PF Atlantic. However, Konsolidator AS is 1.1 times less risky than PF Atlantic. It trades about 0.03 of its potential returns per unit of risk. PF Atlantic Petroleum is currently generating about -0.08 per unit of risk. If you would invest 372.00 in Konsolidator AS on August 29, 2024 and sell it today you would earn a total of 8.00 from holding Konsolidator AS or generate 2.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Konsolidator AS vs. PF Atlantic Petroleum
Performance |
| Timeline |
| Konsolidator AS |
| PF Atlantic Petroleum |
Konsolidator and PF Atlantic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Konsolidator and PF Atlantic
The main advantage of trading using opposite Konsolidator and PF Atlantic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Konsolidator position performs unexpectedly, PF Atlantic 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 PF Atlantic will offset losses from the drop in PF Atlantic's long position.| Konsolidator vs. Strategic Investments AS | Konsolidator vs. Laan Spar Bank | Konsolidator vs. Cessatech AS | Konsolidator vs. Prime Office AS |
| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. Orphazyme AS | PF Atlantic vs. TORM plc |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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