Correlation Between Oatly Group and High Performance
Can any of the company-specific risk be diversified away by investing in both Oatly Group and High Performance at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Oatly Group and High Performance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oatly Group AB and High Performance Beverages, you can compare the effects of market volatilities on Oatly Group and High Performance 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 Oatly Group with a short position of High Performance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oatly Group and High Performance.
Diversification Opportunities for Oatly Group and High Performance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oatly and High is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oatly Group AB and High Performance Beverages in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on High Performance Bev and Oatly Group 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 Oatly Group AB are associated (or correlated) with High Performance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of High Performance Bev has no effect on the direction of Oatly Group i.e., Oatly Group and High Performance go up and down completely randomly.
Pair Corralation between Oatly Group and High Performance
If you would invest 0.00 in High Performance Beverages on November 1, 2024 and sell it today you would earn a total of 0.00 from holding High Performance Beverages or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Oatly Group AB vs. High Performance Beverages
Performance |
| Timeline |
| Oatly Group AB |
| High Performance Bev |
Oatly Group and High Performance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oatly Group and High Performance
The main advantage of trading using opposite Oatly Group and High Performance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oatly Group position performs unexpectedly, High Performance 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 High Performance will offset losses from the drop in High Performance's long position.| Oatly Group vs. Monster Beverage Corp | Oatly Group vs. Vita Coco | Oatly Group vs. PepsiCo | Oatly Group vs. The Coca Cola |
| High Performance vs. V Group | High Performance vs. Fbec Worldwide | High Performance vs. Hiru Corporation | High Performance vs. Alkame Holdings |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |