Correlation Between Train Alliance and Soder Sportfiske
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By analyzing existing cross correlation between Train Alliance Sweden and Soder Sportfiske AB, you can compare the effects of market volatilities on Train Alliance and Soder Sportfiske 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 Soder Sportfiske. Check out your portfolio center. Please also check ongoing floating volatility patterns of Train Alliance and Soder Sportfiske.
Diversification Opportunities for Train Alliance and Soder Sportfiske
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Train and Soder is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Train Alliance Sweden and Soder Sportfiske AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Soder Sportfiske 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 Soder Sportfiske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Soder Sportfiske has no effect on the direction of Train Alliance i.e., Train Alliance and Soder Sportfiske go up and down completely randomly.
Pair Corralation between Train Alliance and Soder Sportfiske
Assuming the 90 days trading horizon Train Alliance Sweden is expected to under-perform the Soder Sportfiske. But the stock apears to be less risky and, when comparing its historical volatility, Train Alliance Sweden is 2.51 times less risky than Soder Sportfiske. The stock trades about -0.1 of its potential returns per unit of risk. The Soder Sportfiske AB is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 2,700 in Soder Sportfiske AB on August 30, 2024 and sell it today you would lose (200.00) from holding Soder Sportfiske AB or give up 7.41% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Train Alliance Sweden vs. Soder Sportfiske AB
Performance |
| Timeline |
| Train Alliance Sweden |
| Soder Sportfiske |
Train Alliance and Soder Sportfiske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Train Alliance and Soder Sportfiske
The main advantage of trading using opposite Train Alliance and Soder Sportfiske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Train Alliance position performs unexpectedly, Soder Sportfiske 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 Soder Sportfiske will offset losses from the drop in Soder Sportfiske'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 |
| Soder Sportfiske vs. Awardit AB | Soder Sportfiske vs. RVRC Holding AB | Soder Sportfiske vs. MIPS AB | Soder Sportfiske vs. Smart Eye 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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