Correlation Between PT Wintermar and Atrium Ljungberg
Can any of the company-specific risk be diversified away by investing in both PT Wintermar and Atrium Ljungberg at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining PT Wintermar and Atrium Ljungberg into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PT Wintermar Offshore and Atrium Ljungberg AB, you can compare the effects of market volatilities on PT Wintermar and Atrium Ljungberg 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 PT Wintermar with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of PT Wintermar and Atrium Ljungberg.
Diversification Opportunities for PT Wintermar and Atrium Ljungberg
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between W6O and Atrium is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PT Wintermar Offshore and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and PT Wintermar 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 PT Wintermar Offshore are associated (or correlated) with Atrium Ljungberg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrium Ljungberg has no effect on the direction of PT Wintermar i.e., PT Wintermar and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between PT Wintermar and Atrium Ljungberg
If you would invest 0.00 in Atrium Ljungberg AB on October 28, 2024 and sell it today you would earn a total of 0.00 from holding Atrium Ljungberg AB or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 2.56% |
| Values | Daily Returns |
PT Wintermar Offshore vs. Atrium Ljungberg AB
Performance |
| Timeline |
| PT Wintermar Offshore |
| Atrium Ljungberg |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
PT Wintermar and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PT Wintermar and Atrium Ljungberg
The main advantage of trading using opposite PT Wintermar and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PT Wintermar position performs unexpectedly, Atrium Ljungberg 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 Atrium Ljungberg will offset losses from the drop in Atrium Ljungberg's long position.| PT Wintermar vs. AP Mller | PT Wintermar vs. AP Mller | PT Wintermar vs. HAPAG LLOYD UNSPADR 12 | PT Wintermar vs. DFDS AS |
| Atrium Ljungberg vs. Suntory Beverage Food | Atrium Ljungberg vs. PKSHA TECHNOLOGY INC | Atrium Ljungberg vs. Digilife Technologies Limited | Atrium Ljungberg vs. Addtech 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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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