Correlation Between Stillfront Group and IZafe Group
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By analyzing existing cross correlation between Stillfront Group AB and iZafe Group AB, you can compare the effects of market volatilities on Stillfront Group and IZafe 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 Stillfront Group with a short position of IZafe Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stillfront Group and IZafe Group.
Diversification Opportunities for Stillfront Group and IZafe Group
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Stillfront and IZafe is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Stillfront Group AB and iZafe Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iZafe Group AB and Stillfront 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 Stillfront Group AB are associated (or correlated) with IZafe Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iZafe Group AB has no effect on the direction of Stillfront Group i.e., Stillfront Group and IZafe Group go up and down completely randomly.
Pair Corralation between Stillfront Group and IZafe Group
Assuming the 90 days horizon Stillfront Group AB is expected to under-perform the IZafe Group. But the stock apears to be less risky and, when comparing its historical volatility, Stillfront Group AB is 1.37 times less risky than IZafe Group. The stock trades about -0.34 of its potential returns per unit of risk. The iZafe Group AB is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 22.00 in iZafe Group AB on November 3, 2024 and sell it today you would earn a total of 2.00 from holding iZafe Group AB or generate 9.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Stillfront Group AB vs. iZafe Group AB
Performance |
| Timeline |
| Stillfront Group |
| iZafe Group AB |
Stillfront Group and IZafe Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stillfront Group and IZafe Group
The main advantage of trading using opposite Stillfront Group and IZafe Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stillfront Group position performs unexpectedly, IZafe 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 IZafe Group will offset losses from the drop in IZafe Group's long position.| Stillfront Group vs. Embracer Group AB | Stillfront Group vs. Sinch AB | Stillfront Group vs. Paradox Interactive AB | Stillfront Group vs. Evolution AB |
| IZafe Group vs. Sprint Bioscience AB | IZafe Group vs. Acarix AS | IZafe Group vs. Annexin Pharmaceuticals 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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