Correlation Between Maj Invest and FOM Technologies
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By analyzing existing cross correlation between Maj Invest Glob and FOM Technologies AS, you can compare the effects of market volatilities on Maj Invest and FOM Technologies 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 Maj Invest with a short position of FOM Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maj Invest and FOM Technologies.
Diversification Opportunities for Maj Invest and FOM Technologies
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Maj and FOM is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Maj Invest Glob and FOM Technologies AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FOM Technologies and Maj Invest 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 Maj Invest Glob are associated (or correlated) with FOM Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FOM Technologies has no effect on the direction of Maj Invest i.e., Maj Invest and FOM Technologies go up and down completely randomly.
Pair Corralation between Maj Invest and FOM Technologies
Assuming the 90 days trading horizon Maj Invest Glob is expected to generate 0.25 times more return on investment than FOM Technologies. However, Maj Invest Glob is 3.99 times less risky than FOM Technologies. It trades about 0.19 of its potential returns per unit of risk. FOM Technologies AS is currently generating about -0.46 per unit of risk. If you would invest 13,665 in Maj Invest Glob on August 29, 2024 and sell it today you would earn a total of 560.00 from holding Maj Invest Glob or generate 4.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maj Invest Glob vs. FOM Technologies AS
Performance |
| Timeline |
| Maj Invest Glob |
| FOM Technologies |
Maj Invest and FOM Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maj Invest and FOM Technologies
The main advantage of trading using opposite Maj Invest and FOM Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maj Invest position performs unexpectedly, FOM Technologies 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 FOM Technologies will offset losses from the drop in FOM Technologies' long position.| Maj Invest vs. MapsPeople AS | Maj Invest vs. Penneo AS | Maj Invest vs. Dataproces Group AS | Maj Invest vs. Orderyoyo AS |
| FOM Technologies vs. cBrain AS | FOM Technologies vs. Penneo AS | FOM Technologies vs. Shape Robotics AS | FOM Technologies vs. ALK Abell 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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