Correlation Between AB Sagax and Atrium Ljungberg
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By analyzing existing cross correlation between AB Sagax and Atrium Ljungberg AB, you can compare the effects of market volatilities on AB Sagax and Atrium Ljungberg 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 AB Sagax with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of AB Sagax and Atrium Ljungberg.
Diversification Opportunities for AB Sagax and Atrium Ljungberg
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SAGA-D and Atrium is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding AB Sagax and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and AB Sagax 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 AB Sagax are associated (or correlated) with Atrium Ljungberg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrium Ljungberg has no effect on the direction of AB Sagax i.e., AB Sagax and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between AB Sagax and Atrium Ljungberg
Assuming the 90 days trading horizon AB Sagax is expected to generate 0.44 times more return on investment than Atrium Ljungberg. However, AB Sagax is 2.27 times less risky than Atrium Ljungberg. It trades about 0.23 of its potential returns per unit of risk. Atrium Ljungberg AB is currently generating about -0.32 per unit of risk. If you would invest 3,150 in AB Sagax on December 1, 2024 and sell it today you would earn a total of 130.00 from holding AB Sagax or generate 4.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AB Sagax vs. Atrium Ljungberg AB
Performance |
| Timeline |
| AB Sagax |
| Atrium Ljungberg |
AB Sagax and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AB Sagax and Atrium Ljungberg
The main advantage of trading using opposite AB Sagax and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AB Sagax position performs unexpectedly, Atrium Ljungberg 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 Atrium Ljungberg will offset losses from the drop in Atrium Ljungberg's long position.| AB Sagax vs. AB Sagax | AB Sagax vs. Samhaellsbyggnadsbolaget i Norden | AB Sagax vs. AB Sagax | AB Sagax vs. Fastighets AB Balder |
| Atrium Ljungberg vs. Hufvudstaden AB | Atrium Ljungberg vs. Fabege AB | Atrium Ljungberg vs. Wihlborgs Fastigheter AB | Atrium Ljungberg vs. Fastighets AB Balder |
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 Valuation module to check real value of public entities based on technical and fundamental data.
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