Correlation Between Oslo Exchange and Selvaag Bolig
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By analyzing existing cross correlation between Oslo Exchange Mutual and Selvaag Bolig ASA, you can compare the effects of market volatilities on Oslo Exchange and Selvaag Bolig 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 Selvaag Bolig. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Selvaag Bolig.
Diversification Opportunities for Oslo Exchange and Selvaag Bolig
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oslo and Selvaag is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Selvaag Bolig ASA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Selvaag Bolig 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 Selvaag Bolig. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Selvaag Bolig ASA has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Selvaag Bolig go up and down completely randomly.
Pair Corralation between Oslo Exchange and Selvaag Bolig
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.4 times more return on investment than Selvaag Bolig. However, Oslo Exchange Mutual is 2.53 times less risky than Selvaag Bolig. It trades about 0.01 of its potential returns per unit of risk. Selvaag Bolig ASA is currently generating about -0.14 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. Selvaag Bolig ASA
Performance |
| Timeline |
Oslo Exchange and Selvaag Bolig Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Selvaag Bolig ASA
Pair trading matchups for Selvaag Bolig
Pair Trading with Oslo Exchange and Selvaag Bolig
The main advantage of trading using opposite Oslo Exchange and Selvaag Bolig positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Selvaag Bolig 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 Selvaag Bolig will offset losses from the drop in Selvaag Bolig'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 |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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