Correlation Between Stille AB and Bactiguard Holding
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By analyzing existing cross correlation between Stille AB and Bactiguard Holding AB, you can compare the effects of market volatilities on Stille AB and Bactiguard Holding 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 Stille AB with a short position of Bactiguard Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stille AB and Bactiguard Holding.
Diversification Opportunities for Stille AB and Bactiguard Holding
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Stille and Bactiguard is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Stille AB and Bactiguard Holding AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bactiguard Holding and Stille AB 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 Stille AB are associated (or correlated) with Bactiguard Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bactiguard Holding has no effect on the direction of Stille AB i.e., Stille AB and Bactiguard Holding go up and down completely randomly.
Pair Corralation between Stille AB and Bactiguard Holding
Assuming the 90 days trading horizon Stille AB is expected to generate 0.58 times more return on investment than Bactiguard Holding. However, Stille AB is 1.72 times less risky than Bactiguard Holding. It trades about 0.14 of its potential returns per unit of risk. Bactiguard Holding AB is currently generating about -0.14 per unit of risk. If you would invest 20,800 in Stille AB on September 1, 2024 and sell it today you would earn a total of 1,200 from holding Stille AB or generate 5.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Stille AB vs. Bactiguard Holding AB
Performance |
| Timeline |
| Stille AB |
| Bactiguard Holding |
Stille AB and Bactiguard Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Stille AB and Bactiguard Holding
The main advantage of trading using opposite Stille AB and Bactiguard Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stille AB position performs unexpectedly, Bactiguard Holding 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 Bactiguard Holding will offset losses from the drop in Bactiguard Holding's long position.| Stille AB vs. C Rad AB | Stille AB vs. CellaVision AB | Stille AB vs. Boule Diagnostics AB | Stille AB vs. Genovis AB |
| Bactiguard Holding vs. Xvivo Perfusion AB | Bactiguard Holding vs. BICO Group AB | Bactiguard Holding vs. Stille AB | Bactiguard Holding vs. SpectraCure 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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