Correlation Between OMX Stockholm and Alelion Energy
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By analyzing existing cross correlation between OMX Stockholm Mid and Alelion Energy Systems, you can compare the effects of market volatilities on OMX Stockholm and Alelion Energy 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 OMX Stockholm with a short position of Alelion Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of OMX Stockholm and Alelion Energy.
Diversification Opportunities for OMX Stockholm and Alelion Energy
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OMX and Alelion is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OMX Stockholm Mid and Alelion Energy Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alelion Energy Systems and OMX Stockholm 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 OMX Stockholm Mid are associated (or correlated) with Alelion Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alelion Energy Systems has no effect on the direction of OMX Stockholm i.e., OMX Stockholm and Alelion Energy go up and down completely randomly.
Pair Corralation between OMX Stockholm and Alelion Energy
If you would invest 155,093 in OMX Stockholm Mid on September 3, 2024 and sell it today you would earn a total of 8,394 from holding OMX Stockholm Mid or generate 5.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.33% |
| Values | Daily Returns |
OMX Stockholm Mid vs. Alelion Energy Systems
Performance |
| Timeline |
OMX Stockholm and Alelion Energy Volatility Contrast
Predicted Return Density |
| Returns |
OMX Stockholm Mid
Pair trading matchups for OMX Stockholm
Alelion Energy Systems
Pair trading matchups for Alelion Energy
Pair Trading with OMX Stockholm and Alelion Energy
The main advantage of trading using opposite OMX Stockholm and Alelion Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OMX Stockholm position performs unexpectedly, Alelion Energy 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 Alelion Energy will offset losses from the drop in Alelion Energy's long position.| OMX Stockholm vs. Investment AB Oresund | OMX Stockholm vs. MTI Investment SE | OMX Stockholm vs. Kinnevik Investment AB | OMX Stockholm vs. Axfood AB |
| Alelion Energy vs. Ranplan Group | Alelion Energy vs. Divio Technologies AB | Alelion Energy vs. XMReality AB | Alelion Energy vs. KABE Group AB |
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 CEOs Directory module to screen CEOs from public companies around the world.
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