Correlation Between GomSpace Group and FM Mattsson
Can any of the company-specific risk be diversified away by investing in both GomSpace Group and FM Mattsson 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 GomSpace Group and FM Mattsson into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GomSpace Group AB and FM Mattsson Mora, you can compare the effects of market volatilities on GomSpace Group and FM Mattsson 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 GomSpace Group with a short position of FM Mattsson. Check out your portfolio center. Please also check ongoing floating volatility patterns of GomSpace Group and FM Mattsson.
Diversification Opportunities for GomSpace Group and FM Mattsson
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between GomSpace and FMM-B is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding GomSpace Group AB and FM Mattsson Mora in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FM Mattsson Mora and GomSpace Group 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 GomSpace Group AB are associated (or correlated) with FM Mattsson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FM Mattsson Mora has no effect on the direction of GomSpace Group i.e., GomSpace Group and FM Mattsson go up and down completely randomly.
Pair Corralation between GomSpace Group and FM Mattsson
Assuming the 90 days trading horizon GomSpace Group AB is expected to generate 1.15 times more return on investment than FM Mattsson. However, GomSpace Group is 1.15 times more volatile than FM Mattsson Mora. It trades about 0.04 of its potential returns per unit of risk. FM Mattsson Mora is currently generating about 0.03 per unit of risk. If you would invest 1,462 in GomSpace Group AB on August 31, 2025 and sell it today you would earn a total of 92.00 from holding GomSpace Group AB or generate 6.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GomSpace Group AB vs. FM Mattsson Mora
Performance |
| Timeline |
| GomSpace Group AB |
| FM Mattsson Mora |
GomSpace Group and FM Mattsson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GomSpace Group and FM Mattsson
The main advantage of trading using opposite GomSpace Group and FM Mattsson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GomSpace Group position performs unexpectedly, FM Mattsson 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 FM Mattsson will offset losses from the drop in FM Mattsson's long position.| GomSpace Group vs. AcadeMedia AB | GomSpace Group vs. Gentoo Media | GomSpace Group vs. TRAINB | GomSpace Group vs. G5 Entertainment publ |
| FM Mattsson vs. Invisio Communications AB | FM Mattsson vs. JLT Mobile Computers | FM Mattsson vs. Nordic Asia Investment | FM Mattsson vs. Flowscape Technology 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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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