Correlation Between Oatly Group and Persol Holdings
Can any of the company-specific risk be diversified away by investing in both Oatly Group and Persol Holdings 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 Persol Holdings 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 Persol Holdings Co, you can compare the effects of market volatilities on Oatly Group and Persol Holdings 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 Persol Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oatly Group and Persol Holdings.
Diversification Opportunities for Oatly Group and Persol Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oatly and Persol is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oatly Group AB and Persol Holdings Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Persol Holdings 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 Persol Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Persol Holdings has no effect on the direction of Oatly Group i.e., Oatly Group and Persol Holdings go up and down completely randomly.
Pair Corralation between Oatly Group and Persol Holdings
If you would invest 61.00 in Oatly Group AB on October 25, 2024 and sell it today you would earn a total of 7.00 from holding Oatly Group AB or generate 11.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
Oatly Group AB vs. Persol Holdings Co
Performance |
| Timeline |
| Oatly Group AB |
| Persol Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Oatly Group and Persol Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oatly Group and Persol Holdings
The main advantage of trading using opposite Oatly Group and Persol Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oatly Group position performs unexpectedly, Persol Holdings 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 Persol Holdings will offset losses from the drop in Persol Holdings' long position.| Oatly Group vs. Monster Beverage Corp | Oatly Group vs. Vita Coco | Oatly Group vs. PepsiCo | Oatly Group vs. The Coca Cola |
| Persol Holdings vs. Cirmaker Technology | Persol Holdings vs. Molecular Partners AG | Persol Holdings vs. BW Offshore Limited | Persol Holdings vs. Golden Energy 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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