Correlation Between Oslo Exchange and Bonheur
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By analyzing existing cross correlation between Oslo Exchange Mutual and Bonheur, you can compare the effects of market volatilities on Oslo Exchange and Bonheur 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 Bonheur. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Bonheur.
Diversification Opportunities for Oslo Exchange and Bonheur
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oslo and Bonheur is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Bonheur in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bonheur 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 Bonheur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bonheur has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Bonheur go up and down completely randomly.
Pair Corralation between Oslo Exchange and Bonheur
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.45 times more return on investment than Bonheur. However, Oslo Exchange Mutual is 2.22 times less risky than Bonheur. It trades about 0.08 of its potential returns per unit of risk. Bonheur is currently generating about -0.03 per unit of risk. If you would invest 136,815 in Oslo Exchange Mutual on September 14, 2024 and sell it today you would earn a total of 3,928 from holding Oslo Exchange Mutual or generate 2.87% 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. Bonheur
Performance |
Timeline |
Oslo Exchange and Bonheur Volatility Contrast
Predicted Return Density |
Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Bonheur
Pair trading matchups for Bonheur
Pair Trading with Oslo Exchange and Bonheur
The main advantage of trading using opposite Oslo Exchange and Bonheur positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Bonheur 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 Bonheur will offset losses from the drop in Bonheur's long position.Oslo Exchange vs. 5Th Planet Games | Oslo Exchange vs. Pareto Bank ASA | Oslo Exchange vs. Melhus Sparebank | Oslo Exchange vs. Norwegian Air Shuttle |
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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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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