Correlation Between Svedbergs and GomSpace Group
Can any of the company-specific risk be diversified away by investing in both Svedbergs and GomSpace Group 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 Svedbergs and GomSpace Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Svedbergs i Dalstorp and GomSpace Group AB, you can compare the effects of market volatilities on Svedbergs and GomSpace Group 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 Svedbergs with a short position of GomSpace Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Svedbergs and GomSpace Group.
Diversification Opportunities for Svedbergs and GomSpace Group
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Svedbergs and GomSpace is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Svedbergs i Dalstorp and GomSpace Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GomSpace Group AB and Svedbergs 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 Svedbergs i Dalstorp are associated (or correlated) with GomSpace Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GomSpace Group AB has no effect on the direction of Svedbergs i.e., Svedbergs and GomSpace Group go up and down completely randomly.
Pair Corralation between Svedbergs and GomSpace Group
Assuming the 90 days trading horizon Svedbergs is expected to generate 1.43 times less return on investment than GomSpace Group. But when comparing it to its historical volatility, Svedbergs i Dalstorp is 2.63 times less risky than GomSpace Group. It trades about 0.1 of its potential returns per unit of risk. GomSpace Group AB is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 1,396 in GomSpace Group AB on September 2, 2025 and sell it today you would earn a total of 158.00 from holding GomSpace Group AB or generate 11.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Svedbergs i Dalstorp vs. GomSpace Group AB
Performance |
| Timeline |
| Svedbergs i Dalstorp |
| GomSpace Group AB |
Svedbergs and GomSpace Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Svedbergs and GomSpace Group
The main advantage of trading using opposite Svedbergs and GomSpace Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Svedbergs position performs unexpectedly, GomSpace Group 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 GomSpace Group will offset losses from the drop in GomSpace Group's long position.| Svedbergs vs. Upsales Technology AB | Svedbergs vs. COOR Service Management | Svedbergs vs. White Pearl Technology | Svedbergs vs. Vitec Software Group |
| GomSpace Group vs. OptiCept Technologies AB | GomSpace Group vs. Viva Wine Group | GomSpace Group vs. Scandic Hotels Group | GomSpace Group vs. Neola 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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