Correlation Between SECITS Holding and Ayima Group
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By analyzing existing cross correlation between SECITS Holding AB and Ayima Group AB, you can compare the effects of market volatilities on SECITS Holding and Ayima Group 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 SECITS Holding with a short position of Ayima Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of SECITS Holding and Ayima Group.
Diversification Opportunities for SECITS Holding and Ayima Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SECITS and Ayima is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SECITS Holding AB and Ayima Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ayima Group AB and SECITS Holding 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 SECITS Holding AB are associated (or correlated) with Ayima Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ayima Group AB has no effect on the direction of SECITS Holding i.e., SECITS Holding and Ayima Group go up and down completely randomly.
Pair Corralation between SECITS Holding and Ayima Group
Assuming the 90 days trading horizon SECITS Holding AB is expected to under-perform the Ayima Group. In addition to that, SECITS Holding is 1.91 times more volatile than Ayima Group AB. It trades about -0.01 of its total potential returns per unit of risk. Ayima Group AB is currently generating about 0.06 per unit of volatility. If you would invest 213.00 in Ayima Group AB on September 4, 2024 and sell it today you would earn a total of 119.00 from holding Ayima Group AB or generate 55.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
SECITS Holding AB vs. Ayima Group AB
Performance |
| Timeline |
| SECITS Holding AB |
| Ayima Group AB |
SECITS Holding and Ayima Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SECITS Holding and Ayima Group
The main advantage of trading using opposite SECITS Holding and Ayima Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SECITS Holding position performs unexpectedly, Ayima Group 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 Ayima Group will offset losses from the drop in Ayima Group's long position.| SECITS Holding vs. Enersize Oy | SECITS Holding vs. Zaplox AB | SECITS Holding vs. XMReality AB | SECITS Holding vs. Sonetel AB |
| Ayima Group vs. Absolent Group AB | Ayima Group vs. Adventure Box Technology | Ayima Group vs. Enorama Pharma AB | Ayima Group vs. ALM Equity AB |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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