Correlation Between Oslo Exchange and SKAGEN AVKASTNING
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By analyzing existing cross correlation between Oslo Exchange Mutual and SKAGEN AVKASTNING, you can compare the effects of market volatilities on Oslo Exchange and SKAGEN AVKASTNING 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 SKAGEN AVKASTNING. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and SKAGEN AVKASTNING.
Diversification Opportunities for Oslo Exchange and SKAGEN AVKASTNING
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Oslo and SKAGEN is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and SKAGEN AVKASTNING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SKAGEN AVKASTNING 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 SKAGEN AVKASTNING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SKAGEN AVKASTNING has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and SKAGEN AVKASTNING go up and down completely randomly.
Pair Corralation between Oslo Exchange and SKAGEN AVKASTNING
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 2.83 times more return on investment than SKAGEN AVKASTNING. However, Oslo Exchange is 2.83 times more volatile than SKAGEN AVKASTNING. It trades about 0.07 of its potential returns per unit of risk. SKAGEN AVKASTNING is currently generating about 0.07 per unit of risk. If you would invest 117,745 in Oslo Exchange Mutual on September 1, 2024 and sell it today you would earn a total of 23,217 from holding Oslo Exchange Mutual or generate 19.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.2% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. SKAGEN AVKASTNING
Performance |
| Timeline |
Oslo Exchange and SKAGEN AVKASTNING Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
SKAGEN AVKASTNING
Pair trading matchups for SKAGEN AVKASTNING
Pair Trading with Oslo Exchange and SKAGEN AVKASTNING
The main advantage of trading using opposite Oslo Exchange and SKAGEN AVKASTNING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, SKAGEN AVKASTNING 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 SKAGEN AVKASTNING will offset losses from the drop in SKAGEN AVKASTNING's long position.| Oslo Exchange vs. SD Standard Drilling | Oslo Exchange vs. Romsdal Sparebank | Oslo Exchange vs. Polaris Media | Oslo Exchange vs. Sunndal Sparebank |
| SKAGEN AVKASTNING vs. Elkem ASA | SKAGEN AVKASTNING vs. DNB NOR KAPFORV | SKAGEN AVKASTNING vs. Integrated Wind Solutions | SKAGEN AVKASTNING vs. Vow 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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