Correlation Between Greater Than and Modelon AB
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By analyzing existing cross correlation between Greater Than AB and Modelon AB Cl, you can compare the effects of market volatilities on Greater Than and Modelon AB 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 Greater Than with a short position of Modelon AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Greater Than and Modelon AB.
Diversification Opportunities for Greater Than and Modelon AB
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Greater and Modelon is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Greater Than AB and Modelon AB Cl in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Modelon AB Cl and Greater Than 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 Greater Than AB are associated (or correlated) with Modelon AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Modelon AB Cl has no effect on the direction of Greater Than i.e., Greater Than and Modelon AB go up and down completely randomly.
Pair Corralation between Greater Than and Modelon AB
Assuming the 90 days trading horizon Greater Than AB is expected to under-perform the Modelon AB. In addition to that, Greater Than is 2.48 times more volatile than Modelon AB Cl. It trades about -0.02 of its total potential returns per unit of risk. Modelon AB Cl is currently generating about -0.01 per unit of volatility. If you would invest 1,150 in Modelon AB Cl on September 12, 2024 and sell it today you would lose (40.00) from holding Modelon AB Cl or give up 3.48% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 89.06% |
Values | Daily Returns |
Greater Than AB vs. Modelon AB Cl
Performance |
Timeline |
Greater Than AB |
Modelon AB Cl |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Greater Than and Modelon AB Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Greater Than and Modelon AB
The main advantage of trading using opposite Greater Than and Modelon AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Greater Than position performs unexpectedly, Modelon AB 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 Modelon AB will offset losses from the drop in Modelon AB's long position.Greater Than vs. BIMobject AB | Greater Than vs. IAR Systems Group | Greater Than vs. FormPipe Software AB | Greater Than vs. Generic Sweden publ |
Modelon AB vs. Greater Than AB | Modelon AB vs. FormPipe Software AB | Modelon AB vs. MOBA Network publ | Modelon AB vs. Exsitec Holding 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 CEOs Directory module to screen CEOs from public companies around the world.
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