Correlation Between LUXOR-B and Agillic AS
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By analyzing existing cross correlation between Investeringsselskabet Luxor AS and Agillic AS, you can compare the effects of market volatilities on LUXOR-B and Agillic AS 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 Agillic AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of LUXOR-B and Agillic AS.
Diversification Opportunities for LUXOR-B and Agillic AS
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between LUXOR-B and Agillic is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsselskabet Luxor AS and Agillic AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agillic 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 Agillic AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agillic AS has no effect on the direction of LUXOR-B i.e., LUXOR-B and Agillic AS go up and down completely randomly.
Pair Corralation between LUXOR-B and Agillic AS
Assuming the 90 days trading horizon Investeringsselskabet Luxor AS is expected to generate 0.8 times more return on investment than Agillic AS. However, Investeringsselskabet Luxor AS is 1.26 times less risky than Agillic AS. It trades about -0.03 of its potential returns per unit of risk. Agillic AS is currently generating about -0.07 per unit of risk. If you would invest 83,000 in Investeringsselskabet Luxor AS on September 4, 2024 and sell it today you would lose (27,500) from holding Investeringsselskabet Luxor AS or give up 33.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Investeringsselskabet Luxor AS vs. Agillic AS
Performance |
| Timeline |
| Investeringsselskabet |
| Agillic AS |
LUXOR-B and Agillic AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LUXOR-B and Agillic AS
The main advantage of trading using opposite LUXOR-B and Agillic AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LUXOR-B position performs unexpectedly, Agillic AS 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 Agillic AS will offset losses from the drop in Agillic AS'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 |
| Agillic AS vs. Alefarm Brewing AS | Agillic AS vs. Embla Medical hf | Agillic AS vs. Vestjysk Bank AS | Agillic AS vs. Groenlandsbanken 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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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