Correlation Between SKAGEN AVKASTNING and ALFRED BERG
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By analyzing existing cross correlation between SKAGEN AVKASTNING and ALFRED BERG PENGEMARKED, you can compare the effects of market volatilities on SKAGEN AVKASTNING and ALFRED BERG 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 SKAGEN AVKASTNING with a short position of ALFRED BERG. Check out your portfolio center. Please also check ongoing floating volatility patterns of SKAGEN AVKASTNING and ALFRED BERG.
Diversification Opportunities for SKAGEN AVKASTNING and ALFRED BERG
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SKAGEN and ALFRED is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SKAGEN AVKASTNING and ALFRED BERG PENGEMARKED in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALFRED BERG PENGEMARKED and SKAGEN AVKASTNING 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 SKAGEN AVKASTNING are associated (or correlated) with ALFRED BERG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALFRED BERG PENGEMARKED has no effect on the direction of SKAGEN AVKASTNING i.e., SKAGEN AVKASTNING and ALFRED BERG go up and down completely randomly.
Pair Corralation between SKAGEN AVKASTNING and ALFRED BERG
If you would invest 14,785 in SKAGEN AVKASTNING on August 28, 2024 and sell it today you would earn a total of 55.00 from holding SKAGEN AVKASTNING or generate 0.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
SKAGEN AVKASTNING vs. ALFRED BERG PENGEMARKED
Performance |
| Timeline |
| SKAGEN AVKASTNING |
| ALFRED BERG PENGEMARKED |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
SKAGEN AVKASTNING and ALFRED BERG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SKAGEN AVKASTNING and ALFRED BERG
The main advantage of trading using opposite SKAGEN AVKASTNING and ALFRED BERG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SKAGEN AVKASTNING position performs unexpectedly, ALFRED BERG 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 ALFRED BERG will offset losses from the drop in ALFRED BERG's long position.| SKAGEN AVKASTNING vs. Elkem ASA | SKAGEN AVKASTNING vs. Integrated Wind Solutions | SKAGEN AVKASTNING vs. Vow ASA | SKAGEN AVKASTNING vs. North Energy ASA |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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