Correlation Between Stendrren Fastigheter and Corem Property
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By analyzing existing cross correlation between Stendrren Fastigheter AB and Corem Property Group, you can compare the effects of market volatilities on Stendrren Fastigheter and Corem Property 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 Stendrren Fastigheter with a short position of Corem Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stendrren Fastigheter and Corem Property.
Diversification Opportunities for Stendrren Fastigheter and Corem Property
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Stendrren and Corem is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Stendrren Fastigheter AB and Corem Property Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corem Property Group and Stendrren Fastigheter 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 Stendrren Fastigheter AB are associated (or correlated) with Corem Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corem Property Group has no effect on the direction of Stendrren Fastigheter i.e., Stendrren Fastigheter and Corem Property go up and down completely randomly.
Pair Corralation between Stendrren Fastigheter and Corem Property
Assuming the 90 days trading horizon Stendrren Fastigheter is expected to generate 1.36 times less return on investment than Corem Property. In addition to that, Stendrren Fastigheter is 1.49 times more volatile than Corem Property Group. It trades about 0.06 of its total potential returns per unit of risk. Corem Property Group is currently generating about 0.12 per unit of volatility. If you would invest 16,893 in Corem Property Group on September 12, 2024 and sell it today you would earn a total of 9,957 from holding Corem Property Group or generate 58.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Stendrren Fastigheter AB vs. Corem Property Group
Performance |
| Timeline |
| Stendrren Fastigheter |
| Corem Property Group |
Stendrren Fastigheter and Corem Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stendrren Fastigheter and Corem Property
The main advantage of trading using opposite Stendrren Fastigheter and Corem Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stendrren Fastigheter position performs unexpectedly, Corem Property 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 Corem Property will offset losses from the drop in Corem Property's long position.| Stendrren Fastigheter vs. Corem Property Group | Stendrren Fastigheter vs. ALM Equity AB | Stendrren Fastigheter vs. Fastighets AB Balder | Stendrren Fastigheter vs. KABE Group AB |
| Corem Property vs. ALM Equity AB | Corem Property vs. Fastighets AB Balder | Corem Property vs. KABE Group AB | Corem Property 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 Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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