Correlation Between Oslo Exchange and Kraft Bank
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By analyzing existing cross correlation between Oslo Exchange Mutual and Kraft Bank Asa, you can compare the effects of market volatilities on Oslo Exchange and Kraft Bank 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 Kraft Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Kraft Bank.
Diversification Opportunities for Oslo Exchange and Kraft Bank
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Oslo and Kraft is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Kraft Bank Asa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kraft Bank 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 Kraft Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraft Bank Asa has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Kraft Bank go up and down completely randomly.
Pair Corralation between Oslo Exchange and Kraft Bank
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.3 times more return on investment than Kraft Bank. However, Oslo Exchange Mutual is 3.32 times less risky than Kraft Bank. It trades about 0.01 of its potential returns per unit of risk. Kraft Bank Asa is currently generating about -0.17 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 Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Kraft Bank Asa
Performance |
| Timeline |
Oslo Exchange and Kraft Bank Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Kraft Bank Asa
Pair trading matchups for Kraft Bank
Pair Trading with Oslo Exchange and Kraft Bank
The main advantage of trading using opposite Oslo Exchange and Kraft Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Kraft Bank 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 Kraft Bank will offset losses from the drop in Kraft Bank'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 |
| Kraft Bank vs. Eidesvik Offshore ASA | Kraft Bank vs. Romerike Sparebank | Kraft Bank vs. Melhus Sparebank | Kraft Bank vs. Sea1 Offshore |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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