Correlation Between Oslo Exchange and SBF 120
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By analyzing existing cross correlation between Oslo Exchange Mutual and SBF 120, you can compare the effects of market volatilities on Oslo Exchange and SBF 120 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 SBF 120. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and SBF 120.
Diversification Opportunities for Oslo Exchange and SBF 120
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Oslo and SBF is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and SBF 120 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBF 120 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 SBF 120. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBF 120 has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and SBF 120 go up and down completely randomly.
Pair Corralation between Oslo Exchange and SBF 120
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.94 times more return on investment than SBF 120. However, Oslo Exchange Mutual is 1.06 times less risky than SBF 120. It trades about 0.16 of its potential returns per unit of risk. SBF 120 is currently generating about -0.04 per unit of risk. If you would invest 129,116 in Oslo Exchange Mutual on January 30, 2024 and sell it today you would earn a total of 2,438 from holding Oslo Exchange Mutual or generate 1.89% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Oslo Exchange Mutual vs. SBF 120
Performance |
Timeline |
Oslo Exchange and SBF 120 Volatility Contrast
Predicted Return Density |
Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
SBF 120
Pair trading matchups for SBF 120
Pair Trading with Oslo Exchange and SBF 120
The main advantage of trading using opposite Oslo Exchange and SBF 120 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, SBF 120 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 SBF 120 will offset losses from the drop in SBF 120's long position.Oslo Exchange vs. Grong Sparebank | Oslo Exchange vs. Sunndal Sparebank | Oslo Exchange vs. Melhus Sparebank | Oslo Exchange vs. Aasen Sparebank |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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