Correlation Between LUXOR-B and DecideAct
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By analyzing existing cross correlation between Investeringsselskabet Luxor AS and DecideAct AS, you can compare the effects of market volatilities on LUXOR-B and DecideAct 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 LUXOR-B with a short position of DecideAct. Check out your portfolio center. Please also check ongoing floating volatility patterns of LUXOR-B and DecideAct.
Diversification Opportunities for LUXOR-B and DecideAct
Very good diversification
The 3 months correlation between LUXOR-B and DecideAct is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsselskabet Luxor AS and DecideAct AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DecideAct AS and LUXOR-B 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 Investeringsselskabet Luxor AS are associated (or correlated) with DecideAct. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DecideAct AS has no effect on the direction of LUXOR-B i.e., LUXOR-B and DecideAct go up and down completely randomly.
Pair Corralation between LUXOR-B and DecideAct
Assuming the 90 days trading horizon Investeringsselskabet Luxor AS is expected to generate 0.28 times more return on investment than DecideAct. However, Investeringsselskabet Luxor AS is 3.58 times less risky than DecideAct. It trades about 0.0 of its potential returns per unit of risk. DecideAct AS is currently generating about 0.0 per unit of risk. If you would invest 58,000 in Investeringsselskabet Luxor AS on September 4, 2024 and sell it today you would lose (2,500) from holding Investeringsselskabet Luxor AS or give up 4.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Investeringsselskabet Luxor AS vs. DecideAct AS
Performance |
| Timeline |
| Investeringsselskabet |
| DecideAct AS |
LUXOR-B and DecideAct Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LUXOR-B and DecideAct
The main advantage of trading using opposite LUXOR-B and DecideAct positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LUXOR-B position performs unexpectedly, DecideAct 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 DecideAct will offset losses from the drop in DecideAct's long position.| LUXOR-B vs. Skjern Bank AS | LUXOR-B vs. Groenlandsbanken AS | LUXOR-B vs. Fynske Bank AS | LUXOR-B vs. Lollands Bank |
| DecideAct vs. cBrain AS | DecideAct vs. FOM Technologies AS | DecideAct vs. ChemoMetec AS | DecideAct vs. BioPorto |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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