Correlation Between Logistea A and KlaraBo Sverige
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By analyzing existing cross correlation between Logistea A and KlaraBo Sverige AB, you can compare the effects of market volatilities on Logistea A and KlaraBo Sverige 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 Logistea A with a short position of KlaraBo Sverige. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logistea A and KlaraBo Sverige.
Diversification Opportunities for Logistea A and KlaraBo Sverige
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Logistea and KlaraBo is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Logistea A and KlaraBo Sverige AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KlaraBo Sverige AB and Logistea A 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 Logistea A are associated (or correlated) with KlaraBo Sverige. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KlaraBo Sverige AB has no effect on the direction of Logistea A i.e., Logistea A and KlaraBo Sverige go up and down completely randomly.
Pair Corralation between Logistea A and KlaraBo Sverige
Assuming the 90 days trading horizon Logistea A is expected to generate 0.65 times more return on investment than KlaraBo Sverige. However, Logistea A is 1.53 times less risky than KlaraBo Sverige. It trades about -0.08 of its potential returns per unit of risk. KlaraBo Sverige AB is currently generating about -0.13 per unit of risk. 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 |
Logistea A vs. KlaraBo Sverige AB
Performance |
| Timeline |
| Logistea A |
| KlaraBo Sverige AB |
Logistea A and KlaraBo Sverige Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logistea A and KlaraBo Sverige
The main advantage of trading using opposite Logistea A and KlaraBo Sverige positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logistea A position performs unexpectedly, KlaraBo Sverige 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 KlaraBo Sverige will offset losses from the drop in KlaraBo Sverige's long position.| Logistea A vs. NetJobs Group AB | Logistea A vs. Mantex AB | Logistea A vs. Doxa AB | Logistea A vs. Clean Motion AB |
| KlaraBo Sverige vs. JLT Mobile Computers | KlaraBo Sverige vs. G5 Entertainment publ | KlaraBo Sverige vs. Avanza Bank Holding | KlaraBo Sverige vs. 24SevenOffice Scandinavia 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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