Correlation Between LUXOR-B and MapsPeople
Specify exactly 2 symbols:
By analyzing existing cross correlation between Investeringsselskabet Luxor AS and MapsPeople AS, you can compare the effects of market volatilities on LUXOR-B and MapsPeople 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 MapsPeople. Check out your portfolio center. Please also check ongoing floating volatility patterns of LUXOR-B and MapsPeople.
Diversification Opportunities for LUXOR-B and MapsPeople
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between LUXOR-B and MapsPeople is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsselskabet Luxor AS and MapsPeople AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MapsPeople 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 MapsPeople. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MapsPeople AS has no effect on the direction of LUXOR-B i.e., LUXOR-B and MapsPeople go up and down completely randomly.
Pair Corralation between LUXOR-B and MapsPeople
Assuming the 90 days trading horizon Investeringsselskabet Luxor AS is expected to under-perform the MapsPeople. But the stock apears to be less risky and, when comparing its historical volatility, Investeringsselskabet Luxor AS is 5.14 times less risky than MapsPeople. The stock trades about -0.07 of its potential returns per unit of risk. The MapsPeople AS is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 161.00 in MapsPeople AS on August 29, 2024 and sell it today you would lose (12.00) from holding MapsPeople AS or give up 7.45% 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. MapsPeople AS
Performance |
| Timeline |
| Investeringsselskabet |
| MapsPeople AS |
LUXOR-B and MapsPeople Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LUXOR-B and MapsPeople
The main advantage of trading using opposite LUXOR-B and MapsPeople positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LUXOR-B position performs unexpectedly, MapsPeople 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 MapsPeople will offset losses from the drop in MapsPeople'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 |
| MapsPeople vs. Konsolidator AS | MapsPeople vs. Sparinvest INDEX Globale | MapsPeople vs. Bavarian Nordic | MapsPeople vs. Investeringsselskabet Luxor 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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |