Correlation Between Oslo Exchange and Hunter Group
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By analyzing existing cross correlation between Oslo Exchange Mutual and Hunter Group ASA, you can compare the effects of market volatilities on Oslo Exchange and Hunter Group 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 Hunter Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Hunter Group.
Diversification Opportunities for Oslo Exchange and Hunter Group
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Oslo and Hunter is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Hunter Group ASA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hunter Group 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 Hunter Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hunter Group ASA has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Hunter Group go up and down completely randomly.
Pair Corralation between Oslo Exchange and Hunter Group
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.11 times more return on investment than Hunter Group. However, Oslo Exchange Mutual is 9.08 times less risky than Hunter Group. It trades about 0.01 of its potential returns per unit of risk. Hunter Group ASA is currently generating about -0.09 per unit of risk. If you would invest 140,656 in Oslo Exchange Mutual on August 29, 2024 and sell it today you would earn a total of 88.00 from holding Oslo Exchange Mutual or generate 0.06% 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. Hunter Group ASA
Performance |
| Timeline |
Oslo Exchange and Hunter Group Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Hunter Group ASA
Pair trading matchups for Hunter Group
Pair Trading with Oslo Exchange and Hunter Group
The main advantage of trading using opposite Oslo Exchange and Hunter Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Hunter Group 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 Hunter Group will offset losses from the drop in Hunter Group'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 |
| Hunter Group vs. FLEX LNG | Hunter Group vs. Elkem ASA | Hunter Group vs. DNB NOR KAPFORV | Hunter Group vs. Integrated Wind Solutions |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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