Correlation Between Oatly Group and SOCGEN
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By analyzing existing cross correlation between Oatly Group AB and SOCGEN 4677 15 JUN 27, you can compare the effects of market volatilities on Oatly Group and SOCGEN 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 SOCGEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oatly Group and SOCGEN.
Diversification Opportunities for Oatly Group and SOCGEN
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Oatly and SOCGEN is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Oatly Group AB and SOCGEN 4677 15 JUN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOCGEN 4677 15 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 SOCGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOCGEN 4677 15 has no effect on the direction of Oatly Group i.e., Oatly Group and SOCGEN go up and down completely randomly.
Pair Corralation between Oatly Group and SOCGEN
Given the investment horizon of 90 days Oatly Group AB is expected to under-perform the SOCGEN. In addition to that, Oatly Group is 9.65 times more volatile than SOCGEN 4677 15 JUN 27. It trades about -0.04 of its total potential returns per unit of risk. SOCGEN 4677 15 JUN 27 is currently generating about -0.03 per unit of volatility. If you would invest 9,908 in SOCGEN 4677 15 JUN 27 on September 3, 2024 and sell it today you would lose (103.00) from holding SOCGEN 4677 15 JUN 27 or give up 1.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 35.53% |
| Values | Daily Returns |
Oatly Group AB vs. SOCGEN 4677 15 JUN 27
Performance |
| Timeline |
| Oatly Group AB |
| SOCGEN 4677 15 |
Oatly Group and SOCGEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oatly Group and SOCGEN
The main advantage of trading using opposite Oatly Group and SOCGEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oatly Group position performs unexpectedly, SOCGEN 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 SOCGEN will offset losses from the drop in SOCGEN's long position.| Oatly Group vs. Monster Beverage Corp | Oatly Group vs. Vita Coco | Oatly Group vs. PepsiCo | Oatly Group vs. The Coca Cola |
| SOCGEN vs. Integral Ad Science | SOCGEN vs. Videolocity International | SOCGEN vs. Universal Music Group | SOCGEN vs. Mills Music Trust |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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