Correlation Between Triboron International and Svenska Aerogel
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By analyzing existing cross correlation between Triboron International AB and Svenska Aerogel Holding, you can compare the effects of market volatilities on Triboron International and Svenska Aerogel 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 Triboron International with a short position of Svenska Aerogel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Triboron International and Svenska Aerogel.
Diversification Opportunities for Triboron International and Svenska Aerogel
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Triboron and Svenska is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Triboron International AB and Svenska Aerogel Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Svenska Aerogel Holding and Triboron International 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 Triboron International AB are associated (or correlated) with Svenska Aerogel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Svenska Aerogel Holding has no effect on the direction of Triboron International i.e., Triboron International and Svenska Aerogel go up and down completely randomly.
Pair Corralation between Triboron International and Svenska Aerogel
Assuming the 90 days trading horizon Triboron International AB is expected to generate 0.92 times more return on investment than Svenska Aerogel. However, Triboron International AB is 1.08 times less risky than Svenska Aerogel. It trades about 0.0 of its potential returns per unit of risk. Svenska Aerogel Holding is currently generating about -0.02 per unit of risk. If you would invest 59.00 in Triboron International AB on August 31, 2024 and sell it today you would lose (19.00) from holding Triboron International AB or give up 32.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Triboron International AB vs. Svenska Aerogel Holding
Performance |
| Timeline |
| Triboron International |
| Svenska Aerogel Holding |
Triboron International and Svenska Aerogel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Triboron International and Svenska Aerogel
The main advantage of trading using opposite Triboron International and Svenska Aerogel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Triboron International position performs unexpectedly, Svenska Aerogel 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 Svenska Aerogel will offset losses from the drop in Svenska Aerogel's long position.| Triboron International vs. SaltX Technology Holding | Triboron International vs. Nexam Chemical Holding | Triboron International vs. AAC Clyde Space |
| Svenska Aerogel vs. SaltX Technology Holding | Svenska Aerogel vs. Nexam Chemical Holding | Svenska Aerogel vs. AAC Clyde Space |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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