Correlation Between Tamtron Group and Aiforia Technologies
Specify exactly 2 symbols:
By analyzing existing cross correlation between Tamtron Group Oyj and Aiforia Technologies Oyj, you can compare the effects of market volatilities on Tamtron Group and Aiforia Technologies 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 Tamtron Group with a short position of Aiforia Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tamtron Group and Aiforia Technologies.
Diversification Opportunities for Tamtron Group and Aiforia Technologies
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Tamtron and Aiforia is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Tamtron Group Oyj and Aiforia Technologies Oyj in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aiforia Technologies Oyj and Tamtron Group 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 Tamtron Group Oyj are associated (or correlated) with Aiforia Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aiforia Technologies Oyj has no effect on the direction of Tamtron Group i.e., Tamtron Group and Aiforia Technologies go up and down completely randomly.
Pair Corralation between Tamtron Group and Aiforia Technologies
Assuming the 90 days trading horizon Tamtron Group Oyj is expected to generate 1.08 times more return on investment than Aiforia Technologies. However, Tamtron Group is 1.08 times more volatile than Aiforia Technologies Oyj. It trades about 0.2 of its potential returns per unit of risk. Aiforia Technologies Oyj is currently generating about -0.36 per unit of risk. If you would invest 532.00 in Tamtron Group Oyj on September 1, 2024 and sell it today you would earn a total of 44.00 from holding Tamtron Group Oyj or generate 8.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tamtron Group Oyj vs. Aiforia Technologies Oyj
Performance |
| Timeline |
| Tamtron Group Oyj |
| Aiforia Technologies Oyj |
Tamtron Group and Aiforia Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tamtron Group and Aiforia Technologies
The main advantage of trading using opposite Tamtron Group and Aiforia Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tamtron Group position performs unexpectedly, Aiforia Technologies 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 Aiforia Technologies will offset losses from the drop in Aiforia Technologies' long position.| Tamtron Group vs. Nordea Bank Abp | Tamtron Group vs. QPR Software Oyj | Tamtron Group vs. HKFoods Oyj A | Tamtron Group vs. Alandsbanken Abp A |
| Aiforia Technologies vs. SSH Communications Security | Aiforia Technologies vs. Tamtron Group Oyj | Aiforia Technologies vs. Metsa Board Oyj | Aiforia Technologies vs. Qt Group Oyj |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |