Correlation Between AP Mller and Aalborg Boldspilklub
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By analyzing existing cross correlation between AP Mller and Aalborg Boldspilklub AS, you can compare the effects of market volatilities on AP Mller and Aalborg Boldspilklub 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 Aalborg Boldspilklub. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Aalborg Boldspilklub.
Diversification Opportunities for AP Mller and Aalborg Boldspilklub
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MAERSK-B and Aalborg is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Aalborg Boldspilklub AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aalborg Boldspilklub 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 Aalborg Boldspilklub. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aalborg Boldspilklub has no effect on the direction of AP Mller i.e., AP Mller and Aalborg Boldspilklub go up and down completely randomly.
Pair Corralation between AP Mller and Aalborg Boldspilklub
Assuming the 90 days trading horizon AP Mller is expected to generate 1.11 times more return on investment than Aalborg Boldspilklub. However, AP Mller is 1.11 times more volatile than Aalborg Boldspilklub AS. It trades about 0.02 of its potential returns per unit of risk. Aalborg Boldspilklub AS is currently generating about -0.02 per unit of risk. If you would invest 1,080,788 in AP Mller on September 19, 2024 and sell it today you would earn a total of 73,212 from holding AP Mller or generate 6.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
AP Mller vs. Aalborg Boldspilklub AS
Performance |
| Timeline |
| AP Mller |
| Aalborg Boldspilklub |
AP Mller and Aalborg Boldspilklub Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Aalborg Boldspilklub
The main advantage of trading using opposite AP Mller and Aalborg Boldspilklub positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, Aalborg Boldspilklub 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 Aalborg Boldspilklub will offset losses from the drop in Aalborg Boldspilklub'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 |
| Aalborg Boldspilklub vs. ISS AS | Aalborg Boldspilklub vs. FLSmidth Co | Aalborg Boldspilklub vs. NKT AS | Aalborg Boldspilklub vs. Ambu 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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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