Correlation Between Axfood AB and Vitec Holdings
Can any of the company-specific risk be diversified away by investing in both Axfood AB and Vitec Holdings 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 Axfood AB and Vitec Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Axfood AB and Vitec Holdings Co, you can compare the effects of market volatilities on Axfood AB and Vitec Holdings 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 Axfood AB with a short position of Vitec Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Axfood AB and Vitec Holdings.
Diversification Opportunities for Axfood AB and Vitec Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Axfood and Vitec is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Axfood AB and Vitec Holdings Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vitec Holdings and Axfood 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 Axfood AB are associated (or correlated) with Vitec Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vitec Holdings has no effect on the direction of Axfood AB i.e., Axfood AB and Vitec Holdings go up and down completely randomly.
Pair Corralation between Axfood AB and Vitec Holdings
If you would invest 2,392 in Axfood AB on April 29, 2025 and sell it today you would earn a total of 210.00 from holding Axfood AB or generate 8.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
Axfood AB vs. Vitec Holdings Co
Performance |
| Timeline |
| Axfood AB |
| Vitec Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Axfood AB and Vitec Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Axfood AB and Vitec Holdings
The main advantage of trading using opposite Axfood AB and Vitec Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Axfood AB position performs unexpectedly, Vitec Holdings 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 Vitec Holdings will offset losses from the drop in Vitec Holdings' long position.| Axfood AB vs. CapitaLand Investment Limited | Axfood AB vs. REGAL ASIAN INVESTMENTS | Axfood AB vs. ECHO INVESTMENT ZY | Axfood AB vs. AGNC INVESTMENT |
| Vitec Holdings vs. BRAGG GAMING GRP | Vitec Holdings vs. CONTAGIOUS GAMING INC | Vitec Holdings vs. FUTURE GAMING GRP | Vitec Holdings vs. Forgame Holdings |
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 CEOs Directory module to screen CEOs from public companies around the world.
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