Correlation Between LUXOR-B and Harboes Bryggeri
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By analyzing existing cross correlation between Investeringsselskabet Luxor AS and Harboes Bryggeri AS, you can compare the effects of market volatilities on LUXOR-B and Harboes Bryggeri 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 Harboes Bryggeri. Check out your portfolio center. Please also check ongoing floating volatility patterns of LUXOR-B and Harboes Bryggeri.
Diversification Opportunities for LUXOR-B and Harboes Bryggeri
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between LUXOR-B and Harboes is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsselskabet Luxor AS and Harboes Bryggeri AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harboes Bryggeri 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 Harboes Bryggeri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harboes Bryggeri has no effect on the direction of LUXOR-B i.e., LUXOR-B and Harboes Bryggeri go up and down completely randomly.
Pair Corralation between LUXOR-B and Harboes Bryggeri
Assuming the 90 days trading horizon Investeringsselskabet Luxor AS is expected to generate 1.07 times more return on investment than Harboes Bryggeri. However, LUXOR-B is 1.07 times more volatile than Harboes Bryggeri AS. It trades about 0.22 of its potential returns per unit of risk. Harboes Bryggeri AS is currently generating about -0.2 per unit of risk. If you would invest 65,500 in Investeringsselskabet Luxor AS on October 26, 2024 and sell it today you would earn a total of 7,000 from holding Investeringsselskabet Luxor AS or generate 10.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Investeringsselskabet Luxor AS vs. Harboes Bryggeri AS
Performance |
| Timeline |
| Investeringsselskabet |
| Harboes Bryggeri |
LUXOR-B and Harboes Bryggeri Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LUXOR-B and Harboes Bryggeri
The main advantage of trading using opposite LUXOR-B and Harboes Bryggeri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LUXOR-B position performs unexpectedly, Harboes Bryggeri 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 Harboes Bryggeri will offset losses from the drop in Harboes Bryggeri'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 |
| Harboes Bryggeri vs. Royal Unibrew AS | Harboes Bryggeri vs. Matas AS | Harboes Bryggeri vs. Nnit AS | Harboes Bryggeri vs. DFDS 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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