Correlation Between Swedbank and KlaraBo Sverige
Specify exactly 2 symbols:
By analyzing existing cross correlation between Swedbank AB and KlaraBo Sverige AB, you can compare the effects of market volatilities on Swedbank and KlaraBo Sverige 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 Swedbank with a short position of KlaraBo Sverige. Check out your portfolio center. Please also check ongoing floating volatility patterns of Swedbank and KlaraBo Sverige.
Diversification Opportunities for Swedbank and KlaraBo Sverige
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Swedbank and KlaraBo is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Swedbank AB and KlaraBo Sverige AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KlaraBo Sverige AB and Swedbank 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 Swedbank AB are associated (or correlated) with KlaraBo Sverige. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KlaraBo Sverige AB has no effect on the direction of Swedbank i.e., Swedbank and KlaraBo Sverige go up and down completely randomly.
Pair Corralation between Swedbank and KlaraBo Sverige
Assuming the 90 days trading horizon Swedbank AB is expected to generate 0.43 times more return on investment than KlaraBo Sverige. However, Swedbank AB is 2.3 times less risky than KlaraBo Sverige. It trades about -0.04 of its potential returns per unit of risk. KlaraBo Sverige AB is currently generating about -0.12 per unit of risk. If you would invest 21,620 in Swedbank AB on September 1, 2024 and sell it today you would lose (240.00) from holding Swedbank AB or give up 1.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Swedbank AB vs. KlaraBo Sverige AB
Performance |
| Timeline |
| Swedbank AB |
| KlaraBo Sverige AB |
Swedbank and KlaraBo Sverige Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Swedbank and KlaraBo Sverige
The main advantage of trading using opposite Swedbank and KlaraBo Sverige positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Swedbank position performs unexpectedly, KlaraBo Sverige 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 KlaraBo Sverige will offset losses from the drop in KlaraBo Sverige's long position.| Swedbank vs. Svenska Handelsbanken AB | Swedbank vs. Nordea Bank Abp | Swedbank vs. Telia Company AB | Swedbank vs. Tele2 AB |
| KlaraBo Sverige vs. Fastighets AB Balder | KlaraBo Sverige vs. Fabege AB | KlaraBo Sverige vs. Wihlborgs Fastigheter AB | KlaraBo Sverige vs. Castellum 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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |