Correlation Between Oslo Exchange and Europris ASA
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By analyzing existing cross correlation between Oslo Exchange Mutual and Europris ASA, you can compare the effects of market volatilities on Oslo Exchange and Europris ASA 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 Europris ASA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Europris ASA.
Diversification Opportunities for Oslo Exchange and Europris ASA
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Oslo and Europris is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Europris ASA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Europris ASA 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 Europris ASA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Europris ASA has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Europris ASA go up and down completely randomly.
Pair Corralation between Oslo Exchange and Europris ASA
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.52 times more return on investment than Europris ASA. However, Oslo Exchange Mutual is 1.91 times less risky than Europris ASA. It trades about 0.11 of its potential returns per unit of risk. Europris ASA is currently generating about -0.05 per unit of risk. If you would invest 136,563 in Oslo Exchange Mutual on August 28, 2024 and sell it today you would earn a total of 4,181 from holding Oslo Exchange Mutual or generate 3.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Europris ASA
Performance |
| Timeline |
Oslo Exchange and Europris ASA Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Europris ASA
Pair trading matchups for Europris ASA
Pair Trading with Oslo Exchange and Europris ASA
The main advantage of trading using opposite Oslo Exchange and Europris ASA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Europris ASA 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 Europris ASA will offset losses from the drop in Europris ASA'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 |
| Europris ASA vs. Storebrand ASA | Europris ASA vs. XXL ASA | Europris ASA vs. Orkla ASA | Europris ASA vs. DnB 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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