Correlation Between Maven Wireless and Arion Banki
Specify exactly 2 symbols:
By analyzing existing cross correlation between Maven Wireless Sweden and Arion banki hf, you can compare the effects of market volatilities on Maven Wireless and Arion Banki 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 Maven Wireless with a short position of Arion Banki. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maven Wireless and Arion Banki.
Diversification Opportunities for Maven Wireless and Arion Banki
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Maven and Arion is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Maven Wireless Sweden and Arion banki hf in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arion banki hf and Maven Wireless 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 Maven Wireless Sweden are associated (or correlated) with Arion Banki. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arion banki hf has no effect on the direction of Maven Wireless i.e., Maven Wireless and Arion Banki go up and down completely randomly.
Pair Corralation between Maven Wireless and Arion Banki
Assuming the 90 days trading horizon Maven Wireless Sweden is expected to under-perform the Arion Banki. In addition to that, Maven Wireless is 2.2 times more volatile than Arion banki hf. It trades about -0.16 of its total potential returns per unit of risk. Arion banki hf is currently generating about 0.01 per unit of volatility. If you would invest 1,240 in Arion banki hf on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Arion banki hf or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maven Wireless Sweden vs. Arion banki hf
Performance |
| Timeline |
| Maven Wireless Sweden |
| Arion banki hf |
Maven Wireless and Arion Banki Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maven Wireless and Arion Banki
The main advantage of trading using opposite Maven Wireless and Arion Banki positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maven Wireless position performs unexpectedly, Arion Banki 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 Arion Banki will offset losses from the drop in Arion Banki's long position.| Maven Wireless vs. Checkin Group AB | Maven Wireless vs. Midsummer AB | Maven Wireless vs. Hexatronic Group AB | Maven Wireless vs. Cint Group AB |
| Arion Banki vs. Svenska Handelsbanken AB | Arion Banki vs. Telia Company AB | Arion Banki vs. Tele2 AB | Arion Banki vs. H M Hennes |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |