Correlation Between Tamtron Group and Viafin Service
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By analyzing existing cross correlation between Tamtron Group Oyj and Viafin Service Oyj, you can compare the effects of market volatilities on Tamtron Group and Viafin Service 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 Viafin Service. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tamtron Group and Viafin Service.
Diversification Opportunities for Tamtron Group and Viafin Service
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Tamtron and Viafin is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Tamtron Group Oyj and Viafin Service Oyj in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viafin Service 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 Viafin Service. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viafin Service Oyj has no effect on the direction of Tamtron Group i.e., Tamtron Group and Viafin Service go up and down completely randomly.
Pair Corralation between Tamtron Group and Viafin Service
Assuming the 90 days trading horizon Tamtron Group Oyj is expected to generate 1.2 times more return on investment than Viafin Service. However, Tamtron Group is 1.2 times more volatile than Viafin Service Oyj. It trades about 0.16 of its potential returns per unit of risk. Viafin Service Oyj is currently generating about 0.09 per unit of risk. If you would invest 518.00 in Tamtron Group Oyj on September 3, 2024 and sell it today you would earn a total of 58.00 from holding Tamtron Group Oyj or generate 11.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tamtron Group Oyj vs. Viafin Service Oyj
Performance |
| Timeline |
| Tamtron Group Oyj |
| Viafin Service Oyj |
Tamtron Group and Viafin Service Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tamtron Group and Viafin Service
The main advantage of trading using opposite Tamtron Group and Viafin Service positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tamtron Group position performs unexpectedly, Viafin Service 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 Viafin Service will offset losses from the drop in Viafin Service's long position.| Tamtron Group vs. Nordea Bank Abp | Tamtron Group vs. Neste Oil Oyj | Tamtron Group vs. KONE Oyj | Tamtron Group vs. Nokia Oyj |
| Viafin Service vs. SSH Communications Security | Viafin Service vs. Tamtron Group Oyj | Viafin Service vs. Metsa Board Oyj | Viafin Service 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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