Correlation Between Polygiene and KebNi AB
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By analyzing existing cross correlation between Polygiene AB and KebNi AB, you can compare the effects of market volatilities on Polygiene and KebNi 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 Polygiene with a short position of KebNi AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Polygiene and KebNi AB.
Diversification Opportunities for Polygiene and KebNi AB
Excellent diversification
The 3 months correlation between Polygiene and KebNi is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Polygiene AB and KebNi AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KebNi AB and Polygiene 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 Polygiene AB are associated (or correlated) with KebNi AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KebNi AB has no effect on the direction of Polygiene i.e., Polygiene and KebNi AB go up and down completely randomly.
Pair Corralation between Polygiene and KebNi AB
Assuming the 90 days trading horizon Polygiene AB is expected to generate 1.12 times more return on investment than KebNi AB. However, Polygiene is 1.12 times more volatile than KebNi AB. It trades about 0.04 of its potential returns per unit of risk. KebNi AB is currently generating about 0.02 per unit of risk. If you would invest 830.00 in Polygiene AB on September 26, 2024 and sell it today you would earn a total of 410.00 from holding Polygiene AB or generate 49.4% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Polygiene AB vs. KebNi AB
Performance |
Timeline |
Polygiene AB |
KebNi AB |
Polygiene and KebNi AB Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Polygiene and KebNi AB
The main advantage of trading using opposite Polygiene and KebNi AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Polygiene position performs unexpectedly, KebNi 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 KebNi AB will offset losses from the drop in KebNi AB's long position.Polygiene vs. G5 Entertainment publ | Polygiene vs. Nexam Chemical Holding | Polygiene vs. Swedencare publ AB | Polygiene vs. Genovis AB |
KebNi AB vs. AB Volvo | KebNi AB vs. Investor AB ser | KebNi AB vs. Industrivarden AB ser | KebNi AB vs. Atlas Copco 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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