Correlation Between Oslo Exchange and Bergen Carbon
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By analyzing existing cross correlation between Oslo Exchange Mutual and Bergen Carbon Solutions, you can compare the effects of market volatilities on Oslo Exchange and Bergen Carbon 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 Oslo Exchange with a short position of Bergen Carbon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Bergen Carbon.
Diversification Opportunities for Oslo Exchange and Bergen Carbon
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oslo and Bergen is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Bergen Carbon Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bergen Carbon Solutions and Oslo Exchange 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 Oslo Exchange Mutual are associated (or correlated) with Bergen Carbon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bergen Carbon Solutions has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Bergen Carbon go up and down completely randomly.
Pair Corralation between Oslo Exchange and Bergen Carbon
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.22 times more return on investment than Bergen Carbon. However, Oslo Exchange Mutual is 4.65 times less risky than Bergen Carbon. It trades about 0.12 of its potential returns per unit of risk. Bergen Carbon Solutions is currently generating about -0.02 per unit of risk. If you would invest 138,113 in Oslo Exchange Mutual on December 30, 2024 and sell it today you would earn a total of 8,142 from holding Oslo Exchange Mutual or generate 5.9% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Oslo Exchange Mutual vs. Bergen Carbon Solutions
Performance |
Timeline |
Oslo Exchange and Bergen Carbon Volatility Contrast
Predicted Return Density |
Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Bergen Carbon Solutions
Pair trading matchups for Bergen Carbon
Pair Trading with Oslo Exchange and Bergen Carbon
The main advantage of trading using opposite Oslo Exchange and Bergen Carbon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Bergen Carbon 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 Bergen Carbon will offset losses from the drop in Bergen Carbon's long position.Oslo Exchange vs. Sparebank 1 SMN | Oslo Exchange vs. Pareto Bank ASA | Oslo Exchange vs. Jaeren Sparebank | Oslo Exchange vs. NorAm Drilling AS |
Bergen Carbon vs. Xplora Technologies As | Bergen Carbon vs. Melhus Sparebank | Bergen Carbon vs. Tysnes Sparebank | Bergen Carbon vs. Nordic Mining ASA |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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