Correlation Between Athanase Innovation and OssDsign

Can any of the company-specific risk be diversified away by investing in both Athanase Innovation and OssDsign 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 Athanase Innovation and OssDsign into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Athanase Innovation AB and OssDsign AB, you can compare the effects of market volatilities on Athanase Innovation and OssDsign 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 Athanase Innovation with a short position of OssDsign. Check out your portfolio center. Please also check ongoing floating volatility patterns of Athanase Innovation and OssDsign.

Diversification Opportunities for Athanase Innovation and OssDsign

-0.43

Correlation Coefficient

Athanase Innovation  OssDsign

Very good diversification

The 3 months correlation between Athanase and OssDsign is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Athanase Innovation AB and OssDsign AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OssDsign AB and Athanase Innovation 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 Athanase Innovation AB are associated (or correlated) with OssDsign. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OssDsign AB has no effect on the direction of Athanase Innovation i.e., Athanase Innovation and OssDsign go up and down completely randomly.

Pair Corralation between Athanase Innovation and OssDsign

Assuming the 90 days trading horizon Athanase Innovation AB is expected to under-perform the OssDsign. But the stock apears to be less risky and, when comparing its historical volatility, Athanase Innovation AB is 1.43 times less risky than OssDsign. The stock trades about -0.12 of its potential returns per unit of risk. The OssDsign AB is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  1,414  in OssDsign AB on April 21, 2025 and sell it today you would earn a total of  116.00  from holding OssDsign AB or generate 8.2% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Athanase Innovation AB  vs.  OssDsign AB

Athanase Innovation

Risk-Adjusted Performance

Very Weak

Over the last 90 days Athanase Innovation AB has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in August 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

OssDsign AB

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in OssDsign AB are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, OssDsign may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with Athanase Innovation and OssDsign

The main advantage of trading using opposite Athanase Innovation and OssDsign positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Athanase Innovation position performs unexpectedly, OssDsign 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 OssDsign will offset losses from the drop in OssDsign's long position.

The idea behind Athanase Innovation AB and OssDsign AB pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.