Correlation Between Oslo Exchange and Agilyx AS
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By analyzing existing cross correlation between Oslo Exchange Mutual and Agilyx AS, you can compare the effects of market volatilities on Oslo Exchange and Agilyx AS 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 Oslo Exchange with a short position of Agilyx AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Agilyx AS.
Diversification Opportunities for Oslo Exchange and Agilyx AS
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Oslo and Agilyx is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Agilyx AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agilyx AS and Oslo Exchange 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 Oslo Exchange Mutual are associated (or correlated) with Agilyx AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agilyx AS has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Agilyx AS go up and down completely randomly.
Pair Corralation between Oslo Exchange and Agilyx AS
Assuming the 90 days trading horizon Oslo Exchange is expected to generate 71.6 times less return on investment than Agilyx AS. But when comparing it to its historical volatility, Oslo Exchange Mutual is 2.44 times less risky than Agilyx AS. It trades about 0.01 of its potential returns per unit of risk. Agilyx AS is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 3,295 in Agilyx AS on August 29, 2024 and sell it today you would earn a total of 270.00 from holding Agilyx AS or generate 8.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Agilyx AS
Performance |
| Timeline |
Oslo Exchange and Agilyx AS Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Agilyx AS
Pair trading matchups for Agilyx AS
Pair Trading with Oslo Exchange and Agilyx AS
The main advantage of trading using opposite Oslo Exchange and Agilyx AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Agilyx AS 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 Agilyx AS will offset losses from the drop in Agilyx AS's long position.| Oslo Exchange vs. Lea Bank ASA | Oslo Exchange vs. Helgeland Sparebank | Oslo Exchange vs. Sunndal Sparebank | Oslo Exchange vs. Xplora Technologies As |
| Agilyx AS vs. Tomra Systems ASA | Agilyx AS vs. Elkem ASA | Agilyx AS vs. Vow ASA | Agilyx AS 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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