Correlation Between Oslo Exchange and Aker Horizons
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By analyzing existing cross correlation between Oslo Exchange Mutual and Aker Horizons AS, you can compare the effects of market volatilities on Oslo Exchange and Aker Horizons 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 Aker Horizons. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Aker Horizons.
Diversification Opportunities for Oslo Exchange and Aker Horizons
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Oslo and Aker is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Aker Horizons AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aker Horizons 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 Aker Horizons. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aker Horizons AS has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Aker Horizons go up and down completely randomly.
Pair Corralation between Oslo Exchange and Aker Horizons
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.13 times more return on investment than Aker Horizons. However, Oslo Exchange Mutual is 7.98 times less risky than Aker Horizons. It trades about 0.1 of its potential returns per unit of risk. Aker Horizons AS is currently generating about -0.21 per unit of risk. If you would invest 138,987 in Oslo Exchange Mutual on September 1, 2024 and sell it today you would earn a total of 1,975 from holding Oslo Exchange Mutual or generate 1.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Aker Horizons AS
Performance |
| Timeline |
Oslo Exchange and Aker Horizons Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Aker Horizons AS
Pair trading matchups for Aker Horizons
Pair Trading with Oslo Exchange and Aker Horizons
The main advantage of trading using opposite Oslo Exchange and Aker Horizons positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Aker Horizons 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 Aker Horizons will offset losses from the drop in Aker Horizons' long position.| Oslo Exchange vs. SD Standard Drilling | Oslo Exchange vs. Romsdal Sparebank | Oslo Exchange vs. Polaris Media | Oslo Exchange vs. Sunndal Sparebank |
| Aker Horizons vs. Aker Carbon Capture | Aker Horizons vs. REC Silicon ASA | Aker Horizons vs. Aker Solutions ASA | Aker Horizons vs. Aker BP 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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