Correlation Between LED IBond and Gabriel Holding
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By analyzing existing cross correlation between LED iBond International and Gabriel Holding, you can compare the effects of market volatilities on LED IBond and Gabriel Holding 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 Gabriel Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of LED IBond and Gabriel Holding.
Diversification Opportunities for LED IBond and Gabriel Holding
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between LED and Gabriel is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding LED iBond International and Gabriel Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gabriel Holding 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 Gabriel Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gabriel Holding has no effect on the direction of LED IBond i.e., LED IBond and Gabriel Holding go up and down completely randomly.
Pair Corralation between LED IBond and Gabriel Holding
Assuming the 90 days trading horizon LED iBond International is expected to generate 5.84 times more return on investment than Gabriel Holding. However, LED IBond is 5.84 times more volatile than Gabriel Holding. It trades about 0.22 of its potential returns per unit of risk. Gabriel Holding is currently generating about -0.15 per unit of risk. If you would invest 17.00 in LED iBond International on August 29, 2024 and sell it today you would earn a total of 16.00 from holding LED iBond International or generate 94.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
LED iBond International vs. Gabriel Holding
Performance |
| Timeline |
| LED iBond International |
| Gabriel Holding |
LED IBond and Gabriel Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LED IBond and Gabriel Holding
The main advantage of trading using opposite LED IBond and Gabriel Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LED IBond position performs unexpectedly, Gabriel Holding 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 Gabriel Holding will offset losses from the drop in Gabriel Holding's long position.| LED IBond vs. Alm Brand | LED IBond vs. Sparinvest INDEX Globale | LED IBond vs. Bavarian Nordic | LED IBond vs. Investeringsselskabet Luxor AS |
| Gabriel Holding vs. SP Group AS | Gabriel Holding vs. Columbus AS | Gabriel Holding vs. Schouw Co | Gabriel Holding vs. RTX AS |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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