Correlation Between Storytel and Realfiction Holding
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By analyzing existing cross correlation between Storytel AB and Realfiction Holding AB, you can compare the effects of market volatilities on Storytel and Realfiction 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 Storytel with a short position of Realfiction Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Storytel and Realfiction Holding.
Diversification Opportunities for Storytel and Realfiction Holding
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Storytel and Realfiction is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Storytel AB and Realfiction Holding AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Realfiction Holding and Storytel 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 Storytel AB are associated (or correlated) with Realfiction Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Realfiction Holding has no effect on the direction of Storytel i.e., Storytel and Realfiction Holding go up and down completely randomly.
Pair Corralation between Storytel and Realfiction Holding
Assuming the 90 days trading horizon Storytel AB is expected to generate 0.44 times more return on investment than Realfiction Holding. However, Storytel AB is 2.29 times less risky than Realfiction Holding. It trades about 0.49 of its potential returns per unit of risk. Realfiction Holding AB is currently generating about 0.03 per unit of risk. If you would invest 6,490 in Storytel AB on November 5, 2024 and sell it today you would earn a total of 1,505 from holding Storytel AB or generate 23.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Storytel AB vs. Realfiction Holding AB
Performance |
| Timeline |
| Storytel AB |
| Realfiction Holding |
Storytel and Realfiction Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Storytel and Realfiction Holding
The main advantage of trading using opposite Storytel and Realfiction Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Storytel position performs unexpectedly, Realfiction 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 Realfiction Holding will offset losses from the drop in Realfiction Holding's long position.| Storytel vs. Stillfront Group AB | Storytel vs. Embracer Group AB | Storytel vs. Sinch AB | Storytel vs. Kambi Group PLC |
| Realfiction Holding vs. Sivers IMA Holding | Realfiction Holding vs. AAC Clyde Space | Realfiction Holding vs. Kancera AB | Realfiction Holding vs. Bambuser 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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