Correlation Between Oslo Exchange and Baltic Sea
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By analyzing existing cross correlation between Oslo Exchange Mutual and Baltic Sea Properties, you can compare the effects of market volatilities on Oslo Exchange and Baltic Sea 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 Baltic Sea. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Baltic Sea.
Diversification Opportunities for Oslo Exchange and Baltic Sea
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Oslo and Baltic is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Baltic Sea Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baltic Sea Properties 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 Baltic Sea. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baltic Sea Properties has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Baltic Sea go up and down completely randomly.
Pair Corralation between Oslo Exchange and Baltic Sea
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.42 times more return on investment than Baltic Sea. However, Oslo Exchange Mutual is 2.37 times less risky than Baltic Sea. It trades about 0.09 of its potential returns per unit of risk. Baltic Sea Properties is currently generating about 0.03 per unit of risk. If you would invest 122,828 in Oslo Exchange Mutual on September 4, 2024 and sell it today you would earn a total of 18,178 from holding Oslo Exchange Mutual or generate 14.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Baltic Sea Properties
Performance |
| Timeline |
Oslo Exchange and Baltic Sea Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Baltic Sea Properties
Pair trading matchups for Baltic Sea
Pair Trading with Oslo Exchange and Baltic Sea
The main advantage of trading using opposite Oslo Exchange and Baltic Sea positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Baltic Sea 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 Baltic Sea will offset losses from the drop in Baltic Sea's long position.| Oslo Exchange vs. Lea Bank ASA | Oslo Exchange vs. 5Th Planet Games | Oslo Exchange vs. Skue Sparebank | Oslo Exchange vs. Awilco Drilling PLC |
| Baltic Sea vs. Instabank ASA | Baltic Sea vs. Romsdal Sparebank | Baltic Sea vs. Sogn Sparebank | Baltic Sea vs. Polaris Media |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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