Correlation Between AP Mller and Flgger Group
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By analyzing existing cross correlation between AP Mller and Flgger group AS, you can compare the effects of market volatilities on AP Mller and Flgger Group 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 Flgger Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Flgger Group.
Diversification Opportunities for AP Mller and Flgger Group
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between MAERSK-A and Flgger is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Flgger group AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flgger group 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 Flgger Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flgger group AS has no effect on the direction of AP Mller i.e., AP Mller and Flgger Group go up and down completely randomly.
Pair Corralation between AP Mller and Flgger Group
Assuming the 90 days trading horizon AP Mller is expected to under-perform the Flgger Group. In addition to that, AP Mller is 2.16 times more volatile than Flgger group AS. It trades about -0.02 of its total potential returns per unit of risk. Flgger group AS is currently generating about 0.12 per unit of volatility. If you would invest 32,400 in Flgger group AS on September 18, 2024 and sell it today you would earn a total of 800.00 from holding Flgger group AS or generate 2.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
AP Mller vs. Flgger group AS
Performance |
| Timeline |
| AP Mller |
| Flgger group AS |
AP Mller and Flgger Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Flgger Group
The main advantage of trading using opposite AP Mller and Flgger Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, Flgger Group 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 Flgger Group will offset losses from the drop in Flgger Group's long position.| AP Mller vs. Dampskibsselskabet Norden AS | AP Mller vs. FLSmidth Co | AP Mller vs. Zealand Pharma AS | AP Mller vs. NKT AS |
| Flgger Group vs. Per Aarsleff Holding | Flgger Group vs. North Media AS | Flgger Group vs. HH International AS | Flgger Group vs. Matas 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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