Correlation Between STORE ELECTRONIC and SVENSKA CELLULO
Can any of the company-specific risk be diversified away by investing in both STORE ELECTRONIC and SVENSKA CELLULO 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 STORE ELECTRONIC and SVENSKA CELLULO into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between STORE ELECTRONIC and SVENSKA CELLULO B , you can compare the effects of market volatilities on STORE ELECTRONIC and SVENSKA CELLULO 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 STORE ELECTRONIC with a short position of SVENSKA CELLULO. Check out your portfolio center. Please also check ongoing floating volatility patterns of STORE ELECTRONIC and SVENSKA CELLULO.
Diversification Opportunities for STORE ELECTRONIC and SVENSKA CELLULO
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STORE and SVENSKA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STORE ELECTRONIC and SVENSKA CELLULO B in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SVENSKA CELLULO B and STORE ELECTRONIC 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 STORE ELECTRONIC are associated (or correlated) with SVENSKA CELLULO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SVENSKA CELLULO B has no effect on the direction of STORE ELECTRONIC i.e., STORE ELECTRONIC and SVENSKA CELLULO go up and down completely randomly.
Pair Corralation between STORE ELECTRONIC and SVENSKA CELLULO
If you would invest 1,562 in SVENSKA CELLULO B on September 13, 2024 and sell it today you would earn a total of 0.00 from holding SVENSKA CELLULO B or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
STORE ELECTRONIC vs. SVENSKA CELLULO B
Performance |
| Timeline |
| STORE ELECTRONIC |
| SVENSKA CELLULO B |
STORE ELECTRONIC and SVENSKA CELLULO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STORE ELECTRONIC and SVENSKA CELLULO
The main advantage of trading using opposite STORE ELECTRONIC and SVENSKA CELLULO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STORE ELECTRONIC position performs unexpectedly, SVENSKA CELLULO 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 SVENSKA CELLULO will offset losses from the drop in SVENSKA CELLULO's long position.| STORE ELECTRONIC vs. Apple Inc | STORE ELECTRONIC vs. Apple Inc | STORE ELECTRONIC vs. Apple Inc | STORE ELECTRONIC vs. Apple Inc |
| SVENSKA CELLULO vs. Astral Foods Limited | SVENSKA CELLULO vs. PT Indofood Sukses | SVENSKA CELLULO vs. SENECA FOODS A | SVENSKA CELLULO vs. PROSIEBENSAT1 MEDIADR4 |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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