Correlation Between LED IBond and Aalborg Boldspilklub
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By analyzing existing cross correlation between LED iBond International and Aalborg Boldspilklub AS, you can compare the effects of market volatilities on LED IBond and Aalborg Boldspilklub 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 LED IBond with a short position of Aalborg Boldspilklub. Check out your portfolio center. Please also check ongoing floating volatility patterns of LED IBond and Aalborg Boldspilklub.
Diversification Opportunities for LED IBond and Aalborg Boldspilklub
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between LED and Aalborg is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding LED iBond International and Aalborg Boldspilklub AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aalborg Boldspilklub and LED IBond 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 LED iBond International are associated (or correlated) with Aalborg Boldspilklub. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aalborg Boldspilklub has no effect on the direction of LED IBond i.e., LED IBond and Aalborg Boldspilklub go up and down completely randomly.
Pair Corralation between LED IBond and Aalborg Boldspilklub
Assuming the 90 days trading horizon LED iBond International is expected to generate 5.26 times more return on investment than Aalborg Boldspilklub. However, LED IBond is 5.26 times more volatile than Aalborg Boldspilklub AS. It trades about 0.07 of its potential returns per unit of risk. Aalborg Boldspilklub AS is currently generating about -0.02 per unit of risk. If you would invest 32.00 in LED iBond International on September 25, 2024 and sell it today you would earn a total of 1.00 from holding LED iBond International or generate 3.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
LED iBond International vs. Aalborg Boldspilklub AS
Performance |
| Timeline |
| LED iBond International |
| Aalborg Boldspilklub |
LED IBond and Aalborg Boldspilklub Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LED IBond and Aalborg Boldspilklub
The main advantage of trading using opposite LED IBond and Aalborg Boldspilklub positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LED IBond position performs unexpectedly, Aalborg Boldspilklub 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 Aalborg Boldspilklub will offset losses from the drop in Aalborg Boldspilklub's long position.| LED IBond vs. Netcompany Group AS | LED IBond vs. Scandinavian Brake Systems | LED IBond vs. Jyske Invest Virksomhedsobligationer | LED IBond vs. Penneo AS |
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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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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