Correlation Between Oscar Properties and Mantex AB
Can any of the company-specific risk be diversified away by investing in both Oscar Properties and Mantex AB at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Oscar Properties and Mantex AB into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oscar Properties Holding and Mantex AB, you can compare the effects of market volatilities on Oscar Properties and Mantex AB 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 Oscar Properties with a short position of Mantex AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oscar Properties and Mantex AB.
Diversification Opportunities for Oscar Properties and Mantex AB
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Oscar and Mantex is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Oscar Properties Holding and Mantex AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mantex AB and Oscar Properties 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 Oscar Properties Holding are associated (or correlated) with Mantex AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mantex AB has no effect on the direction of Oscar Properties i.e., Oscar Properties and Mantex AB go up and down completely randomly.
Pair Corralation between Oscar Properties and Mantex AB
Assuming the 90 days horizon Oscar Properties Holding is expected to generate 4.29 times more return on investment than Mantex AB. However, Oscar Properties is 4.29 times more volatile than Mantex AB. It trades about 0.03 of its potential returns per unit of risk. Mantex AB is currently generating about -0.08 per unit of risk. If you would invest 210.00 in Oscar Properties Holding on August 28, 2024 and sell it today you would lose (190.00) from holding Oscar Properties Holding or give up 90.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.86% |
| Values | Daily Returns |
Oscar Properties Holding vs. Mantex AB
Performance |
| Timeline |
| Oscar Properties Holding |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Mantex AB |
Oscar Properties and Mantex AB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oscar Properties and Mantex AB
The main advantage of trading using opposite Oscar Properties and Mantex AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oscar Properties position performs unexpectedly, Mantex AB 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 Mantex AB will offset losses from the drop in Mantex AB's long position.| Oscar Properties vs. New Wave Group | Oscar Properties vs. Clas Ohlson AB | Oscar Properties vs. BE Group AB | Oscar Properties vs. Betsson AB |
| Mantex AB vs. Lagercrantz Group AB | Mantex AB vs. Addtech AB | Mantex AB vs. AddLife AB | Mantex AB vs. Bufab Holding 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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