Correlation Between LUXOR-B and PF Atlantic
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By analyzing existing cross correlation between Investeringsselskabet Luxor AS and PF Atlantic Petroleum, you can compare the effects of market volatilities on LUXOR-B and PF Atlantic 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 PF Atlantic. Check out your portfolio center. Please also check ongoing floating volatility patterns of LUXOR-B and PF Atlantic.
Diversification Opportunities for LUXOR-B and PF Atlantic
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between LUXOR-B and ATLA-DKK is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsselskabet Luxor AS and PF Atlantic Petroleum in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PF Atlantic Petroleum 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 PF Atlantic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PF Atlantic Petroleum has no effect on the direction of LUXOR-B i.e., LUXOR-B and PF Atlantic go up and down completely randomly.
Pair Corralation between LUXOR-B and PF Atlantic
Assuming the 90 days trading horizon Investeringsselskabet Luxor AS is expected to generate 0.52 times more return on investment than PF Atlantic. However, Investeringsselskabet Luxor AS is 1.91 times less risky than PF Atlantic. It trades about -0.01 of its potential returns per unit of risk. PF Atlantic Petroleum is currently generating about -0.02 per unit of risk. If you would invest 60,000 in Investeringsselskabet Luxor AS on August 25, 2024 and sell it today you would lose (4,500) from holding Investeringsselskabet Luxor AS or give up 7.5% 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. PF Atlantic Petroleum
Performance |
| Timeline |
| Investeringsselskabet |
| PF Atlantic Petroleum |
LUXOR-B and PF Atlantic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LUXOR-B and PF Atlantic
The main advantage of trading using opposite LUXOR-B and PF Atlantic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LUXOR-B position performs unexpectedly, PF Atlantic 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 PF Atlantic will offset losses from the drop in PF Atlantic'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 |
| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. Orphazyme AS | PF Atlantic vs. TORM plc |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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