Correlation Between HEBA Fastighets and Atrium Ljungberg
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By analyzing existing cross correlation between HEBA Fastighets AB and Atrium Ljungberg AB, you can compare the effects of market volatilities on HEBA Fastighets 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 HEBA Fastighets with a short position of Atrium Ljungberg. Check out your portfolio center. Please also check ongoing floating volatility patterns of HEBA Fastighets and Atrium Ljungberg.
Diversification Opportunities for HEBA Fastighets and Atrium Ljungberg
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between HEBA and Atrium is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding HEBA Fastighets AB and Atrium Ljungberg AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrium Ljungberg and HEBA Fastighets 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 HEBA Fastighets AB 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 HEBA Fastighets i.e., HEBA Fastighets and Atrium Ljungberg go up and down completely randomly.
Pair Corralation between HEBA Fastighets and Atrium Ljungberg
Assuming the 90 days trading horizon HEBA Fastighets AB is expected to generate 1.09 times more return on investment than Atrium Ljungberg. However, HEBA Fastighets is 1.09 times more volatile than Atrium Ljungberg AB. It trades about -0.07 of its potential returns per unit of risk. Atrium Ljungberg AB is currently generating about -0.17 per unit of risk. If you would invest 3,450 in HEBA Fastighets AB on September 12, 2024 and sell it today you would lose (265.00) from holding HEBA Fastighets AB or give up 7.68% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
HEBA Fastighets AB vs. Atrium Ljungberg AB
Performance |
Timeline |
HEBA Fastighets AB |
Atrium Ljungberg |
HEBA Fastighets and Atrium Ljungberg Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HEBA Fastighets and Atrium Ljungberg
The main advantage of trading using opposite HEBA Fastighets and Atrium Ljungberg positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HEBA Fastighets 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.HEBA Fastighets vs. Corem Property Group | HEBA Fastighets vs. ALM Equity AB | HEBA Fastighets vs. Fastighets AB Balder | HEBA Fastighets vs. KABE Group AB |
Atrium Ljungberg vs. Hufvudstaden AB | Atrium Ljungberg vs. Fabege AB | Atrium Ljungberg vs. Wihlborgs Fastigheter AB | Atrium Ljungberg vs. Fastighets AB Balder |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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