Correlation Between Synsam AB and Integrum
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By analyzing existing cross correlation between Synsam AB and Integrum AB Series, you can compare the effects of market volatilities on Synsam AB and Integrum 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 Synsam AB with a short position of Integrum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Synsam AB and Integrum.
Diversification Opportunities for Synsam AB and Integrum
Poor diversification
The 3 months correlation between Synsam and Integrum is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Synsam AB and Integrum AB Series in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integrum AB Series and Synsam 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 Synsam AB are associated (or correlated) with Integrum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integrum AB Series has no effect on the direction of Synsam AB i.e., Synsam AB and Integrum go up and down completely randomly.
Pair Corralation between Synsam AB and Integrum
Assuming the 90 days trading horizon Synsam AB is expected to generate 0.86 times more return on investment than Integrum. However, Synsam AB is 1.16 times less risky than Integrum. It trades about -0.13 of its potential returns per unit of risk. Integrum AB Series is currently generating about -0.24 per unit of risk. If you would invest 4,730 in Synsam AB on September 3, 2024 and sell it today you would lose (335.00) from holding Synsam AB or give up 7.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Synsam AB vs. Integrum AB Series
Performance |
| Timeline |
| Synsam AB |
| Integrum AB Series |
Synsam AB and Integrum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Synsam AB and Integrum
The main advantage of trading using opposite Synsam AB and Integrum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Synsam AB position performs unexpectedly, Integrum 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 Integrum will offset losses from the drop in Integrum's long position.| Synsam AB vs. Nordnet AB | Synsam AB vs. Storskogen Group AB | Synsam AB vs. Truecaller AB | Synsam AB vs. Peab AB |
| Integrum vs. Surgical Science Sweden | Integrum vs. Cantargia AB | Integrum vs. C Rad AB | Integrum vs. Bonesupport Holding 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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