Correlation Between JonDeTech Sensors and Alvotech SDB
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By analyzing existing cross correlation between JonDeTech Sensors and Alvotech SDB, you can compare the effects of market volatilities on JonDeTech Sensors and Alvotech SDB 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 JonDeTech Sensors with a short position of Alvotech SDB. Check out your portfolio center. Please also check ongoing floating volatility patterns of JonDeTech Sensors and Alvotech SDB.
Diversification Opportunities for JonDeTech Sensors and Alvotech SDB
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between JonDeTech and Alvotech is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding JonDeTech Sensors and Alvotech SDB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alvotech SDB and JonDeTech Sensors 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 JonDeTech Sensors are associated (or correlated) with Alvotech SDB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alvotech SDB has no effect on the direction of JonDeTech Sensors i.e., JonDeTech Sensors and Alvotech SDB go up and down completely randomly.
Pair Corralation between JonDeTech Sensors and Alvotech SDB
Assuming the 90 days trading horizon JonDeTech Sensors is expected to generate 1.01 times more return on investment than Alvotech SDB. However, JonDeTech Sensors is 1.01 times more volatile than Alvotech SDB. It trades about -0.03 of its potential returns per unit of risk. Alvotech SDB is currently generating about -0.09 per unit of risk. If you would invest 76.00 in JonDeTech Sensors on September 1, 2025 and sell it today you would lose (13.00) from holding JonDeTech Sensors or give up 17.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JonDeTech Sensors vs. Alvotech SDB
Performance |
| Timeline |
| JonDeTech Sensors |
| Alvotech SDB |
JonDeTech Sensors and Alvotech SDB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JonDeTech Sensors and Alvotech SDB
The main advantage of trading using opposite JonDeTech Sensors and Alvotech SDB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JonDeTech Sensors position performs unexpectedly, Alvotech SDB 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 Alvotech SDB will offset losses from the drop in Alvotech SDB's long position.| JonDeTech Sensors vs. White Pearl Technology | JonDeTech Sensors vs. SaveLend Group AB | JonDeTech Sensors vs. Systemair AB | JonDeTech Sensors vs. Fractal Gaming Group |
| Alvotech SDB vs. Sedana Medical AB | Alvotech SDB vs. Train Alliance Sweden | Alvotech SDB vs. Lundin Mining | Alvotech SDB vs. Episurf Medical 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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