Correlation Between KLP KREDITTOBLIGASJO and ODIN NORSK
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By analyzing existing cross correlation between KLP KREDITTOBLIGASJON and ODIN NORSK OBLIGASJON, you can compare the effects of market volatilities on KLP KREDITTOBLIGASJO and ODIN NORSK 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 KLP KREDITTOBLIGASJO with a short position of ODIN NORSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of KLP KREDITTOBLIGASJO and ODIN NORSK.
Diversification Opportunities for KLP KREDITTOBLIGASJO and ODIN NORSK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KLP and ODIN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KLP KREDITTOBLIGASJON and ODIN NORSK OBLIGASJON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ODIN NORSK OBLIGASJON and KLP KREDITTOBLIGASJO 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 KLP KREDITTOBLIGASJON are associated (or correlated) with ODIN NORSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ODIN NORSK OBLIGASJON has no effect on the direction of KLP KREDITTOBLIGASJO i.e., KLP KREDITTOBLIGASJO and ODIN NORSK go up and down completely randomly.
Pair Corralation between KLP KREDITTOBLIGASJO and ODIN NORSK
If you would invest 110,522 in ODIN NORSK OBLIGASJON on August 28, 2024 and sell it today you would earn a total of 194.00 from holding ODIN NORSK OBLIGASJON or generate 0.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
KLP KREDITTOBLIGASJON vs. ODIN NORSK OBLIGASJON
Performance |
| Timeline |
| KLP KREDITTOBLIGASJON |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| ODIN NORSK OBLIGASJON |
KLP KREDITTOBLIGASJO and ODIN NORSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KLP KREDITTOBLIGASJO and ODIN NORSK
The main advantage of trading using opposite KLP KREDITTOBLIGASJO and ODIN NORSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KLP KREDITTOBLIGASJO position performs unexpectedly, ODIN NORSK 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 ODIN NORSK will offset losses from the drop in ODIN NORSK's long position.| KLP KREDITTOBLIGASJO vs. DNB NOR KAPFORV | KLP KREDITTOBLIGASJO vs. SKAGEN AVKASTNING | KLP KREDITTOBLIGASJO vs. ARCTIC HIGH RETURN |
| ODIN NORSK vs. Elkem ASA | ODIN NORSK vs. Integrated Wind Solutions | ODIN NORSK vs. Vow ASA | ODIN NORSK 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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