Correlation Between Sinch AB and Implantica
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By analyzing existing cross correlation between Sinch AB and Implantica AG, you can compare the effects of market volatilities on Sinch AB and Implantica 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 Sinch AB with a short position of Implantica. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sinch AB and Implantica.
Diversification Opportunities for Sinch AB and Implantica
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sinch and Implantica is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Sinch AB and Implantica AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Implantica AG and Sinch AB 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 Sinch AB are associated (or correlated) with Implantica. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Implantica AG has no effect on the direction of Sinch AB i.e., Sinch AB and Implantica go up and down completely randomly.
Pair Corralation between Sinch AB and Implantica
Assuming the 90 days trading horizon Sinch AB is expected to generate 0.94 times more return on investment than Implantica. However, Sinch AB is 1.06 times less risky than Implantica. It trades about -0.02 of its potential returns per unit of risk. Implantica AG is currently generating about -0.05 per unit of risk. If you would invest 2,039 in Sinch AB on September 24, 2024 and sell it today you would lose (33.00) from holding Sinch AB or give up 1.62% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Sinch AB vs. Implantica AG
Performance |
Timeline |
Sinch AB |
Implantica AG |
Sinch AB and Implantica Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Sinch AB and Implantica
The main advantage of trading using opposite Sinch AB and Implantica positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sinch AB position performs unexpectedly, Implantica 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 Implantica will offset losses from the drop in Implantica's long position.Sinch AB vs. Embracer Group AB | Sinch AB vs. Samhllsbyggnadsbolaget i Norden | Sinch AB vs. Evolution AB | Sinch AB vs. Stillfront Group AB |
Implantica vs. Sinch AB | Implantica vs. Hexatronic Group AB | Implantica vs. Surgical Science Sweden | Implantica vs. Embracer Group 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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