Correlation Between Raketech Group and Sdiptech
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By analyzing existing cross correlation between Raketech Group Holding and Sdiptech AB, you can compare the effects of market volatilities on Raketech Group and Sdiptech 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 Raketech Group with a short position of Sdiptech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Raketech Group and Sdiptech.
Diversification Opportunities for Raketech Group and Sdiptech
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Raketech and Sdiptech is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Raketech Group Holding and Sdiptech AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sdiptech AB and Raketech 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 Raketech Group Holding are associated (or correlated) with Sdiptech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sdiptech AB has no effect on the direction of Raketech Group i.e., Raketech Group and Sdiptech go up and down completely randomly.
Pair Corralation between Raketech Group and Sdiptech
Assuming the 90 days trading horizon Raketech Group Holding is expected to under-perform the Sdiptech. In addition to that, Raketech Group is 3.68 times more volatile than Sdiptech AB. It trades about -0.11 of its total potential returns per unit of risk. Sdiptech AB is currently generating about 0.07 per unit of volatility. If you would invest 10,304 in Sdiptech AB on August 29, 2024 and sell it today you would earn a total of 1,946 from holding Sdiptech AB or generate 18.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Raketech Group Holding vs. Sdiptech AB
Performance |
| Timeline |
| Raketech Group Holding |
| Sdiptech AB |
Raketech Group and Sdiptech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Raketech Group and Sdiptech
The main advantage of trading using opposite Raketech Group and Sdiptech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Raketech Group position performs unexpectedly, Sdiptech 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 Sdiptech will offset losses from the drop in Sdiptech's long position.| Raketech Group vs. Catena Media plc | Raketech Group vs. Better Collective | Raketech Group vs. Betsson AB | Raketech Group vs. Kambi Group PLC |
| Sdiptech vs. AB Sagax | Sdiptech vs. ALM Equity AB | Sdiptech vs. KABE Group AB | Sdiptech vs. IAR Systems Group |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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