Correlation Between AP Mller and Aquaporin
Specify exactly 2 symbols:
By analyzing existing cross correlation between AP Mller and Aquaporin AS, you can compare the effects of market volatilities on AP Mller and Aquaporin 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 Aquaporin. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Aquaporin.
Diversification Opportunities for AP Mller and Aquaporin
Very good diversification
The 3 months correlation between MAERSK-A and Aquaporin is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Aquaporin AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aquaporin 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 Aquaporin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aquaporin AS has no effect on the direction of AP Mller i.e., AP Mller and Aquaporin go up and down completely randomly.
Pair Corralation between AP Mller and Aquaporin
Assuming the 90 days trading horizon AP Mller is expected to generate 0.69 times more return on investment than Aquaporin. However, AP Mller is 1.44 times less risky than Aquaporin. It trades about 0.09 of its potential returns per unit of risk. Aquaporin AS is currently generating about -0.06 per unit of risk. If you would invest 1,106,000 in AP Mller on September 3, 2024 and sell it today you would earn a total of 51,000 from holding AP Mller or generate 4.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AP Mller vs. Aquaporin AS
Performance |
| Timeline |
| AP Mller |
| Aquaporin AS |
AP Mller and Aquaporin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Aquaporin
The main advantage of trading using opposite AP Mller and Aquaporin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, Aquaporin 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 Aquaporin will offset losses from the drop in Aquaporin'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 |
| Aquaporin vs. Green Hydrogen Systems | Aquaporin vs. FOM Technologies AS | Aquaporin vs. ALK Abell AS | Aquaporin vs. Trifork Holding AG |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |