Correlation Between SaveLend Group and Koggbron
Can any of the company-specific risk be diversified away by investing in both SaveLend Group and Koggbron 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 SaveLend Group and Koggbron into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SaveLend Group AB and Koggbron, you can compare the effects of market volatilities on SaveLend Group and Koggbron 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 SaveLend Group with a short position of Koggbron. Check out your portfolio center. Please also check ongoing floating volatility patterns of SaveLend Group and Koggbron.
Diversification Opportunities for SaveLend Group and Koggbron
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SaveLend and Koggbron is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SaveLend Group AB and Koggbron in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koggbron and SaveLend Group 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 SaveLend Group AB are associated (or correlated) with Koggbron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koggbron has no effect on the direction of SaveLend Group i.e., SaveLend Group and Koggbron go up and down completely randomly.
Pair Corralation between SaveLend Group and Koggbron
If you would invest (100.00) in Koggbron on September 12, 2024 and sell it today you would earn a total of 100.00 from holding Koggbron or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
SaveLend Group AB vs. Koggbron
Performance |
| Timeline |
| SaveLend Group AB |
| Koggbron |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
SaveLend Group and Koggbron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SaveLend Group and Koggbron
The main advantage of trading using opposite SaveLend Group and Koggbron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SaveLend Group position performs unexpectedly, Koggbron 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 Koggbron will offset losses from the drop in Koggbron's long position.| SaveLend Group vs. Smart Eye AB | SaveLend Group vs. Nepa AB | SaveLend Group vs. MAG Interactive AB | SaveLend Group vs. Hexatronic Group AB |
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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