Correlation Between Train Alliance and Bergman Beving
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By analyzing existing cross correlation between Train Alliance Sweden and Bergman Beving AB, you can compare the effects of market volatilities on Train Alliance and Bergman Beving 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 Train Alliance with a short position of Bergman Beving. Check out your portfolio center. Please also check ongoing floating volatility patterns of Train Alliance and Bergman Beving.
Diversification Opportunities for Train Alliance and Bergman Beving
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Train and Bergman is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Train Alliance Sweden and Bergman Beving AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bergman Beving AB and Train Alliance 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 Train Alliance Sweden are associated (or correlated) with Bergman Beving. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bergman Beving AB has no effect on the direction of Train Alliance i.e., Train Alliance and Bergman Beving go up and down completely randomly.
Pair Corralation between Train Alliance and Bergman Beving
Assuming the 90 days trading horizon Train Alliance Sweden is expected to under-perform the Bergman Beving. But the stock apears to be less risky and, when comparing its historical volatility, Train Alliance Sweden is 1.43 times less risky than Bergman Beving. The stock trades about -0.04 of its potential returns per unit of risk. The Bergman Beving AB is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 26,676 in Bergman Beving AB on August 29, 2024 and sell it today you would earn a total of 674.00 from holding Bergman Beving AB or generate 2.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Train Alliance Sweden vs. Bergman Beving AB
Performance |
| Timeline |
| Train Alliance Sweden |
| Bergman Beving AB |
Train Alliance and Bergman Beving Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Train Alliance and Bergman Beving
The main advantage of trading using opposite Train Alliance and Bergman Beving positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Train Alliance position performs unexpectedly, Bergman Beving 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 Bergman Beving will offset losses from the drop in Bergman Beving's long position.| Train Alliance vs. Bergman Beving AB | Train Alliance vs. FM Mattsson Mora | Train Alliance vs. Systemair AB | Train Alliance vs. Rejlers AB |
| Bergman Beving vs. Lagercrantz Group AB | Bergman Beving vs. Addtech AB | Bergman Beving vs. AddLife AB | Bergman Beving vs. Bufab 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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