Correlation Between State Bank and Coloplast A/S
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By analyzing existing cross correlation between State Bank of and Coloplast AS, you can compare the effects of market volatilities on State Bank and Coloplast A/S 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 State Bank with a short position of Coloplast A/S. Check out your portfolio center. Please also check ongoing floating volatility patterns of State Bank and Coloplast A/S.
Diversification Opportunities for State Bank and Coloplast A/S
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between State and Coloplast is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding State Bank of and Coloplast AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Coloplast A/S and State Bank 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 State Bank of are associated (or correlated) with Coloplast A/S. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coloplast A/S has no effect on the direction of State Bank i.e., State Bank and Coloplast A/S go up and down completely randomly.
Pair Corralation between State Bank and Coloplast A/S
Assuming the 90 days horizon State Bank of is expected to generate 0.73 times more return on investment than Coloplast A/S. However, State Bank of is 1.38 times less risky than Coloplast A/S. It trades about 0.1 of its potential returns per unit of risk. Coloplast AS is currently generating about -0.05 per unit of risk. If you would invest 8,150 in State Bank of on July 16, 2025 and sell it today you would earn a total of 550.00 from holding State Bank of or generate 6.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
State Bank of vs. Coloplast AS
Performance |
| Timeline |
| State Bank |
| Coloplast A/S |
State Bank and Coloplast A/S Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with State Bank and Coloplast A/S
The main advantage of trading using opposite State Bank and Coloplast A/S positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if State Bank position performs unexpectedly, Coloplast A/S 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 Coloplast A/S will offset losses from the drop in Coloplast A/S's long position.| State Bank vs. Amkor Technology | State Bank vs. AMKOR TECHNOLOGY | State Bank vs. DeVry Education Group | State Bank vs. AviChina Industry Technology |
| Coloplast A/S vs. The Boston Beer | Coloplast A/S vs. Strategic Investments AS | Coloplast A/S vs. United Breweries Co | Coloplast A/S vs. REINET INVESTMENTS SCA |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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