Correlation Between Unibap AB and KebNi AB
Specify exactly 2 symbols:
By analyzing existing cross correlation between Unibap AB and KebNi AB, you can compare the effects of market volatilities on Unibap AB 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 Unibap AB with a short position of KebNi AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unibap AB and KebNi AB.
Diversification Opportunities for Unibap AB and KebNi AB
Excellent diversification
The 3 months correlation between Unibap and KebNi is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Unibap AB and KebNi AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KebNi AB and Unibap 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 Unibap 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 Unibap AB i.e., Unibap AB and KebNi AB go up and down completely randomly.
Pair Corralation between Unibap AB and KebNi AB
Assuming the 90 days trading horizon Unibap AB is expected to generate 1.21 times more return on investment than KebNi AB. However, Unibap AB is 1.21 times more volatile than KebNi AB. It trades about 0.09 of its potential returns per unit of risk. KebNi AB is currently generating about -0.08 per unit of risk. If you would invest 264.00 in Unibap AB on September 25, 2024 and sell it today you would earn a total of 114.00 from holding Unibap AB or generate 43.18% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 99.22% |
Values | Daily Returns |
Unibap AB vs. KebNi AB
Performance |
Timeline |
Unibap AB |
KebNi AB |
Unibap AB and KebNi AB Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Unibap AB and KebNi AB
The main advantage of trading using opposite Unibap AB and KebNi AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unibap AB 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.Unibap AB vs. Hexatronic Group AB | Unibap AB vs. Instalco Intressenter AB | Unibap AB vs. NOTE AB | Unibap AB vs. Dometic Group 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
Money Managers Screen money managers from public funds and ETFs managed around the world | |
Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |