Correlation Between Oatly Group and STANLN
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By analyzing existing cross correlation between Oatly Group AB and STANLN 6301 09 JAN 29, you can compare the effects of market volatilities on Oatly Group and STANLN 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 STANLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oatly Group and STANLN.
Diversification Opportunities for Oatly Group and STANLN
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oatly and STANLN is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Oatly Group AB and STANLN 6301 09 JAN 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANLN 6301 09 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 STANLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANLN 6301 09 has no effect on the direction of Oatly Group i.e., Oatly Group and STANLN go up and down completely randomly.
Pair Corralation between Oatly Group and STANLN
Given the investment horizon of 90 days Oatly Group AB is expected to generate 18.16 times more return on investment than STANLN. However, Oatly Group is 18.16 times more volatile than STANLN 6301 09 JAN 29. It trades about 0.11 of its potential returns per unit of risk. STANLN 6301 09 JAN 29 is currently generating about 0.5 per unit of risk. If you would invest 65.00 in Oatly Group AB on September 14, 2024 and sell it today you would earn a total of 5.00 from holding Oatly Group AB or generate 7.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 23.81% |
| Values | Daily Returns |
Oatly Group AB vs. STANLN 6301 09 JAN 29
Performance |
| Timeline |
| Oatly Group AB |
| STANLN 6301 09 |
Oatly Group and STANLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oatly Group and STANLN
The main advantage of trading using opposite Oatly Group and STANLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oatly Group position performs unexpectedly, STANLN 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 STANLN will offset losses from the drop in STANLN's long position.| Oatly Group vs. Monster Beverage Corp | Oatly Group vs. Vita Coco | Oatly Group vs. PepsiCo | Oatly Group vs. The Coca Cola |
| STANLN vs. Oatly Group AB | STANLN vs. Ryanair Holdings PLC | STANLN vs. Primo Brands | STANLN vs. China Tontine Wines |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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