Correlation Between AP Mller and Agat Ejendomme
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By analyzing existing cross correlation between AP Mller and Agat Ejendomme AS, you can compare the effects of market volatilities on AP Mller and Agat Ejendomme 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 AP Mller with a short position of Agat Ejendomme. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Agat Ejendomme.
Diversification Opportunities for AP Mller and Agat Ejendomme
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between MAERSK-A and Agat is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Agat Ejendomme AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agat Ejendomme AS and AP Mller 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 AP Mller are associated (or correlated) with Agat Ejendomme. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agat Ejendomme AS has no effect on the direction of AP Mller i.e., AP Mller and Agat Ejendomme go up and down completely randomly.
Pair Corralation between AP Mller and Agat Ejendomme
Assuming the 90 days trading horizon AP Mller is expected to generate 1.88 times more return on investment than Agat Ejendomme. However, AP Mller is 1.88 times more volatile than Agat Ejendomme AS. It trades about 0.18 of its potential returns per unit of risk. Agat Ejendomme AS is currently generating about -0.32 per unit of risk. If you would invest 1,043,000 in AP Mller on September 1, 2024 and sell it today you would earn a total of 114,000 from holding AP Mller or generate 10.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AP Mller vs. Agat Ejendomme AS
Performance |
| Timeline |
| AP Mller |
| Agat Ejendomme AS |
AP Mller and Agat Ejendomme Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Agat Ejendomme
The main advantage of trading using opposite AP Mller and Agat Ejendomme positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, Agat Ejendomme 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 Agat Ejendomme will offset losses from the drop in Agat Ejendomme's long position.| AP Mller vs. AP Mller | AP Mller vs. DSV Panalpina AS | AP Mller vs. Danske Bank AS | AP Mller vs. FLSmidth Co |
| Agat Ejendomme vs. Cemat AS | Agat Ejendomme vs. Columbus AS | Agat Ejendomme vs. Harboes Bryggeri AS | Agat Ejendomme vs. Copenhagen Capital 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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