Correlation Between Siili Solutions and Nordea Bank
Can any of the company-specific risk be diversified away by investing in both Siili Solutions and Nordea Bank at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Siili Solutions and Nordea Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siili Solutions Oyj and Nordea Bank Abp, you can compare the effects of market volatilities on Siili Solutions and Nordea Bank 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 Siili Solutions with a short position of Nordea Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siili Solutions and Nordea Bank.
Diversification Opportunities for Siili Solutions and Nordea Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Siili and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Siili Solutions Oyj and Nordea Bank Abp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Bank Abp and Siili Solutions 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 Siili Solutions Oyj are associated (or correlated) with Nordea Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Bank Abp has no effect on the direction of Siili Solutions i.e., Siili Solutions and Nordea Bank go up and down completely randomly.
Pair Corralation between Siili Solutions and Nordea Bank
If you would invest 1,236 in Nordea Bank Abp on May 7, 2025 and sell it today you would earn a total of 47.00 from holding Nordea Bank Abp or generate 3.8% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 1.59% |
Values | Daily Returns |
Siili Solutions Oyj vs. Nordea Bank Abp
Performance |
Timeline |
Siili Solutions Oyj |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Nordea Bank Abp |
Siili Solutions and Nordea Bank Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Siili Solutions and Nordea Bank
The main advantage of trading using opposite Siili Solutions and Nordea Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siili Solutions position performs unexpectedly, Nordea Bank 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 Nordea Bank will offset losses from the drop in Nordea Bank's long position.Siili Solutions vs. Qt Group Oyj | Siili Solutions vs. Revenio Group | Siili Solutions vs. Kamux Suomi Oy | Siili Solutions vs. Harvia Oyj |
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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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