Correlation Between Divio Technologies and Saxlund Group
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By analyzing existing cross correlation between Divio Technologies AB and Saxlund Group AB, you can compare the effects of market volatilities on Divio Technologies and Saxlund Group 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 Divio Technologies with a short position of Saxlund Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Divio Technologies and Saxlund Group.
Diversification Opportunities for Divio Technologies and Saxlund Group
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Divio and Saxlund is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Divio Technologies AB and Saxlund Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saxlund Group AB and Divio Technologies 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 Divio Technologies AB are associated (or correlated) with Saxlund Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saxlund Group AB has no effect on the direction of Divio Technologies i.e., Divio Technologies and Saxlund Group go up and down completely randomly.
Pair Corralation between Divio Technologies and Saxlund Group
Assuming the 90 days trading horizon Divio Technologies AB is expected to generate 1.07 times more return on investment than Saxlund Group. However, Divio Technologies is 1.07 times more volatile than Saxlund Group AB. It trades about -0.22 of its potential returns per unit of risk. Saxlund Group AB is currently generating about -0.24 per unit of risk. If you would invest 15.00 in Divio Technologies AB on September 24, 2024 and sell it today you would lose (3.00) from holding Divio Technologies AB or give up 20.0% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Divio Technologies AB vs. Saxlund Group AB
Performance |
Timeline |
Divio Technologies |
Saxlund Group AB |
Divio Technologies and Saxlund Group Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Divio Technologies and Saxlund Group
The main advantage of trading using opposite Divio Technologies and Saxlund Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Divio Technologies position performs unexpectedly, Saxlund Group 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 Saxlund Group will offset losses from the drop in Saxlund Group's long position.Divio Technologies vs. FormPipe Software AB | Divio Technologies vs. MOBA Network publ | Divio Technologies vs. Exsitec Holding AB | Divio Technologies vs. Novotek AB |
Saxlund Group vs. Divio Technologies AB | Saxlund Group vs. Xbrane Biopharma AB | Saxlund Group vs. Flexion Mobile PLC | Saxlund Group vs. Midsummer 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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