Correlation Between FILL UP and Addtech AB

Can any of the company-specific risk be diversified away by investing in both FILL UP and Addtech AB 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 FILL UP and Addtech AB into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between FILL UP MEDIA and Addtech AB, you can compare the effects of market volatilities on FILL UP and Addtech 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 FILL UP with a short position of Addtech AB. Check out your portfolio center. Please also check ongoing floating volatility patterns of FILL UP and Addtech AB.

Diversification Opportunities for FILL UP and Addtech AB

-0.07

Correlation Coefficient

FILL UP  Addtech AB

Good diversification

The 3 months correlation between FILL and Addtech is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding FILL UP MEDIA and Addtech AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Addtech AB and FILL UP 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 FILL UP MEDIA are associated (or correlated) with Addtech AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Addtech AB has no effect on the direction of FILL UP i.e., FILL UP and Addtech AB go up and down completely randomly.

Pair Corralation between FILL UP and Addtech AB

Assuming the 90 days horizon FILL UP MEDIA is expected to generate 1.26 times more return on investment than Addtech AB. However, FILL UP is 1.26 times more volatile than Addtech AB. It trades about 0.07 of its potential returns per unit of risk. Addtech AB is currently generating about -0.02 per unit of risk. If you would invest  575.00  in FILL UP MEDIA on May 27, 2025 and sell it today you would earn a total of  55.00  from holding FILL UP MEDIA or generate 9.57% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

FILL UP MEDIA  vs.  Addtech AB

FILL UP MEDIA

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in FILL UP MEDIA are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, FILL UP may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Addtech AB

Risk-Adjusted Performance

Weakest

Over the last 90 days Addtech AB has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Addtech AB is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with FILL UP and Addtech AB

The main advantage of trading using opposite FILL UP and Addtech AB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FILL UP position performs unexpectedly, Addtech 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 Addtech AB will offset losses from the drop in Addtech AB's long position.

The idea behind FILL UP MEDIA and Addtech AB pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Stocks Directory module to find actively traded stocks across global markets.