Correlation Between Atrium Ljungberg and Platzer Fastigheter
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By analyzing existing cross correlation between Atrium Ljungberg AB and Platzer Fastigheter Holding, you can compare the effects of market volatilities on Atrium Ljungberg and Platzer Fastigheter 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 Atrium Ljungberg with a short position of Platzer Fastigheter. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Ljungberg and Platzer Fastigheter.
Diversification Opportunities for Atrium Ljungberg and Platzer Fastigheter
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Atrium and Platzer is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Ljungberg AB and Platzer Fastigheter Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Platzer Fastigheter and Atrium Ljungberg 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 Atrium Ljungberg AB are associated (or correlated) with Platzer Fastigheter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Platzer Fastigheter has no effect on the direction of Atrium Ljungberg i.e., Atrium Ljungberg and Platzer Fastigheter go up and down completely randomly.
Pair Corralation between Atrium Ljungberg and Platzer Fastigheter
Assuming the 90 days trading horizon Atrium Ljungberg AB is expected to under-perform the Platzer Fastigheter. But the stock apears to be less risky and, when comparing its historical volatility, Atrium Ljungberg AB is 1.27 times less risky than Platzer Fastigheter. The stock trades about -0.18 of its potential returns per unit of risk. The Platzer Fastigheter Holding is currently generating about -0.14 of returns per unit of risk over similar time horizon. If you would invest 10,183 in Platzer Fastigheter Holding on September 15, 2024 and sell it today you would lose (1,623) from holding Platzer Fastigheter Holding or give up 15.94% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Atrium Ljungberg AB vs. Platzer Fastigheter Holding
Performance |
Timeline |
Atrium Ljungberg |
Platzer Fastigheter |
Atrium Ljungberg and Platzer Fastigheter Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Atrium Ljungberg and Platzer Fastigheter
The main advantage of trading using opposite Atrium Ljungberg and Platzer Fastigheter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Ljungberg position performs unexpectedly, Platzer Fastigheter 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 Platzer Fastigheter will offset losses from the drop in Platzer Fastigheter's long position.Atrium Ljungberg vs. Sinch 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 Stocks Directory module to find actively traded stocks across global markets.
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