Correlation Between OMX Stockholm and Koggbron
Specify exactly 2 symbols:
By analyzing existing cross correlation between OMX Stockholm Mid and Koggbron, you can compare the effects of market volatilities on OMX Stockholm and Koggbron 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 Koggbron. Check out your portfolio center. Please also check ongoing floating volatility patterns of OMX Stockholm and Koggbron.
Diversification Opportunities for OMX Stockholm and Koggbron
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OMX and Koggbron is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OMX Stockholm Mid and Koggbron in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koggbron 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 Koggbron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koggbron has no effect on the direction of OMX Stockholm i.e., OMX Stockholm and Koggbron go up and down completely randomly.
Pair Corralation between OMX Stockholm and Koggbron
If you would invest 134,269 in OMX Stockholm Mid on September 4, 2024 and sell it today you would earn a total of 30,581 from holding OMX Stockholm Mid or generate 22.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
OMX Stockholm Mid vs. Koggbron
Performance |
| Timeline |
OMX Stockholm and Koggbron Volatility Contrast
Predicted Return Density |
| Returns |
OMX Stockholm Mid
Pair trading matchups for OMX Stockholm
Koggbron
Pair trading matchups for Koggbron
Pair Trading with OMX Stockholm and Koggbron
The main advantage of trading using opposite OMX Stockholm and Koggbron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OMX Stockholm position performs unexpectedly, Koggbron 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 Koggbron will offset losses from the drop in Koggbron's long position.| OMX Stockholm vs. Qleanair Holding AB | OMX Stockholm vs. Maven Wireless Sweden | OMX Stockholm vs. Axfood AB | OMX Stockholm vs. Scandic Hotels Group |
| Koggbron vs. Arctic Blue Beverages | Koggbron vs. SaveLend Group AB | Koggbron vs. Systemair AB | Koggbron vs. TF Bank 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Stocks Directory Find actively traded stocks across global markets | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |