Correlation Between Volvo Car and BIMobject
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By analyzing existing cross correlation between Volvo Car AB and BIMobject AB, you can compare the effects of market volatilities on Volvo Car and BIMobject 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 Volvo Car with a short position of BIMobject. Check out your portfolio center. Please also check ongoing floating volatility patterns of Volvo Car and BIMobject.
Diversification Opportunities for Volvo Car and BIMobject
Pay attention - limited upside
The 3 months correlation between Volvo and BIMobject is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Volvo Car AB and BIMobject AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIMobject AB and Volvo Car 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 Volvo Car AB are associated (or correlated) with BIMobject. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BIMobject AB has no effect on the direction of Volvo Car i.e., Volvo Car and BIMobject go up and down completely randomly.
Pair Corralation between Volvo Car and BIMobject
If you would invest 405.00 in BIMobject AB on August 29, 2024 and sell it today you would earn a total of 50.00 from holding BIMobject AB or generate 12.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Volvo Car AB vs. BIMobject AB
Performance |
| Timeline |
| Volvo Car AB |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| BIMobject AB |
Volvo Car and BIMobject Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Volvo Car and BIMobject
The main advantage of trading using opposite Volvo Car and BIMobject positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Volvo Car position performs unexpectedly, BIMobject 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 BIMobject will offset losses from the drop in BIMobject's long position.| Volvo Car vs. Samhllsbyggnadsbolaget i Norden | Volvo Car vs. Sinch AB | Volvo Car vs. Investor AB ser | Volvo Car vs. SSAB AB |
| BIMobject vs. G5 Entertainment publ | BIMobject vs. Bambuser AB | BIMobject vs. Catena Media plc | BIMobject vs. Crunchfish 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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