Correlation Between Oslo Exchange and SoftOx Solutions
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By analyzing existing cross correlation between Oslo Exchange Mutual and SoftOx Solutions AS, you can compare the effects of market volatilities on Oslo Exchange and SoftOx Solutions 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 SoftOx Solutions. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and SoftOx Solutions.
Diversification Opportunities for Oslo Exchange and SoftOx Solutions
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Oslo and SoftOx is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and SoftOx Solutions AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SoftOx Solutions 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 SoftOx Solutions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SoftOx Solutions has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and SoftOx Solutions go up and down completely randomly.
Pair Corralation between Oslo Exchange and SoftOx Solutions
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.07 times more return on investment than SoftOx Solutions. However, Oslo Exchange Mutual is 13.81 times less risky than SoftOx Solutions. It trades about 0.02 of its potential returns per unit of risk. SoftOx Solutions AS is currently generating about -0.13 per unit of risk. If you would invest 139,313 in Oslo Exchange Mutual on September 1, 2024 and sell it today you would earn a total of 1,649 from holding Oslo Exchange Mutual or generate 1.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.24% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. SoftOx Solutions AS
Performance |
| Timeline |
Oslo Exchange and SoftOx Solutions Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
SoftOx Solutions AS
Pair trading matchups for SoftOx Solutions
Pair Trading with Oslo Exchange and SoftOx Solutions
The main advantage of trading using opposite Oslo Exchange and SoftOx Solutions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, SoftOx Solutions 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 SoftOx Solutions will offset losses from the drop in SoftOx Solutions' long position.| Oslo Exchange vs. SD Standard Drilling | Oslo Exchange vs. Romsdal Sparebank | Oslo Exchange vs. Polaris Media | Oslo Exchange vs. Sunndal Sparebank |
| SoftOx Solutions vs. SpareBank 1 stlandet | SoftOx Solutions vs. Sea1 Offshore | SoftOx Solutions vs. Gaming Innovation Group | SoftOx Solutions vs. Romsdal Sparebank |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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