Correlation Between Orexo AB and Train Alliance
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By analyzing existing cross correlation between Orexo AB and Train Alliance Sweden, you can compare the effects of market volatilities on Orexo AB and Train Alliance 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 Orexo AB with a short position of Train Alliance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Orexo AB and Train Alliance.
Diversification Opportunities for Orexo AB and Train Alliance
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Orexo and Train is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Orexo AB and Train Alliance Sweden in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Train Alliance Sweden and Orexo 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 Orexo AB are associated (or correlated) with Train Alliance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Train Alliance Sweden has no effect on the direction of Orexo AB i.e., Orexo AB and Train Alliance go up and down completely randomly.
Pair Corralation between Orexo AB and Train Alliance
Assuming the 90 days trading horizon Orexo AB is expected to generate 2.96 times more return on investment than Train Alliance. However, Orexo AB is 2.96 times more volatile than Train Alliance Sweden. It trades about 0.03 of its potential returns per unit of risk. Train Alliance Sweden is currently generating about 0.06 per unit of risk. If you would invest 2,480 in Orexo AB on September 7, 2025 and sell it today you would earn a total of 20.00 from holding Orexo AB or generate 0.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Orexo AB vs. Train Alliance Sweden
Performance |
| Timeline |
| Orexo AB |
| Train Alliance Sweden |
Orexo AB and Train Alliance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Orexo AB and Train Alliance
The main advantage of trading using opposite Orexo AB and Train Alliance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Orexo AB position performs unexpectedly, Train Alliance 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 Train Alliance will offset losses from the drop in Train Alliance's long position.| Orexo AB vs. Asker Healthcare | Orexo AB vs. Catena Media plc | Orexo AB vs. TRAINB | Orexo AB vs. Fractal Gaming Group |
| Train Alliance vs. Raketech Group Holding | Train Alliance vs. JLT Mobile Computers | Train Alliance vs. White Pearl Technology | Train Alliance vs. Sdiptech 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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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