Correlation Between Lohilo Foods and Sdiptech
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By analyzing existing cross correlation between Lohilo Foods AB and Sdiptech AB, you can compare the effects of market volatilities on Lohilo Foods and Sdiptech 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 Lohilo Foods with a short position of Sdiptech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lohilo Foods and Sdiptech.
Diversification Opportunities for Lohilo Foods and Sdiptech
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lohilo and Sdiptech is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Lohilo Foods AB and Sdiptech AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sdiptech AB and Lohilo Foods 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 Lohilo Foods AB are associated (or correlated) with Sdiptech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sdiptech AB has no effect on the direction of Lohilo Foods i.e., Lohilo Foods and Sdiptech go up and down completely randomly.
Pair Corralation between Lohilo Foods and Sdiptech
Assuming the 90 days trading horizon Lohilo Foods AB is expected to under-perform the Sdiptech. In addition to that, Lohilo Foods is 6.67 times more volatile than Sdiptech AB. It trades about -0.14 of its total potential returns per unit of risk. Sdiptech AB is currently generating about -0.18 per unit of volatility. If you would invest 12,600 in Sdiptech AB on August 25, 2024 and sell it today you would lose (400.00) from holding Sdiptech AB or give up 3.17% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lohilo Foods AB vs. Sdiptech AB
Performance |
| Timeline |
| Lohilo Foods AB |
| Sdiptech AB |
Lohilo Foods and Sdiptech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lohilo Foods and Sdiptech
The main advantage of trading using opposite Lohilo Foods and Sdiptech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lohilo Foods position performs unexpectedly, Sdiptech 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 Sdiptech will offset losses from the drop in Sdiptech's long position.| Lohilo Foods vs. Smart Eye AB | Lohilo Foods vs. Kamux Suomi Oy | Lohilo Foods vs. Zignsec AB | Lohilo Foods vs. Harvia Oyj |
| Sdiptech vs. Sdiptech AB | Sdiptech vs. AB Sagax | Sdiptech vs. Corem Property Group | Sdiptech vs. Volati 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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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