Correlation Between OMX Stockholm and Motion Display
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By analyzing existing cross correlation between OMX Stockholm Mid and Motion Display Scandinavia, you can compare the effects of market volatilities on OMX Stockholm and Motion Display 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 Motion Display. Check out your portfolio center. Please also check ongoing floating volatility patterns of OMX Stockholm and Motion Display.
Diversification Opportunities for OMX Stockholm and Motion Display
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OMX and Motion is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OMX Stockholm Mid and Motion Display Scandinavia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Motion Display Scand 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 Motion Display. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Motion Display Scand has no effect on the direction of OMX Stockholm i.e., OMX Stockholm and Motion Display go up and down completely randomly.
Pair Corralation between OMX Stockholm and Motion Display
If you would invest (100.00) in Motion Display Scandinavia on September 12, 2024 and sell it today you would earn a total of 100.00 from holding Motion Display Scandinavia or generate -100.0% 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. Motion Display Scandinavia
Performance |
| Timeline |
OMX Stockholm and Motion Display Volatility Contrast
Predicted Return Density |
| Returns |
OMX Stockholm Mid
Pair trading matchups for OMX Stockholm
Motion Display Scandinavia
Pair trading matchups for Motion Display
Pair Trading with OMX Stockholm and Motion Display
The main advantage of trading using opposite OMX Stockholm and Motion Display positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OMX Stockholm position performs unexpectedly, Motion Display 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 Motion Display will offset losses from the drop in Motion Display's long position.| OMX Stockholm vs. Filo Mining Corp | OMX Stockholm vs. Arctic Blue Beverages | OMX Stockholm vs. Invisio Communications AB | OMX Stockholm vs. AcadeMedia AB |
| Motion Display vs. Flexion Mobile PLC | Motion Display vs. Media and Games | Motion Display vs. Filo Mining Corp | Motion Display vs. Beowulf Mining PLC |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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