Orexo AB (Sweden) Statistic Functions Pearson Correlation Coefficient
| ORX Stock | SEK 15.98 0.68 4.44% |
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The output start index for this execution was thirty-five with a total number of output elements of twenty-six. The Pearsons Correlation Coefficient is one of the most common measures of correlation in financial statistics. It shows the linear relationship between price series of Orexo AB and its benchmark or peer.
Orexo AB Technical Analysis Modules
Most technical analysis of Orexo AB help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Orexo from various momentum indicators to cycle indicators. When you analyze Orexo charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About Orexo AB Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Orexo AB. We use our internally-developed statistical techniques to arrive at the intrinsic value of Orexo AB based on widely used predictive technical indicators. In general, we focus on analyzing Orexo Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Orexo AB's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Orexo AB's intrinsic value. In addition to deriving basic predictive indicators for Orexo AB, we also check how macroeconomic factors affect Orexo AB price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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Orexo AB pair trading
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Orexo AB position performs unexpectedly, the other equity 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 Orexo AB will appreciate offsetting losses from the drop in the long position's value.Orexo AB Pair Trading
Orexo AB Pair Trading Analysis
The ability to find closely correlated positions to Orexo AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orexo AB when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Orexo AB - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Orexo AB to buy it.
The correlation of Orexo AB is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Orexo AB moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orexo AB moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Orexo AB can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Orexo Stock Analysis
When running Orexo AB's price analysis, check to measure Orexo AB's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Orexo AB is operating at the current time. Most of Orexo AB's value examination focuses on studying past and present price action to predict the probability of Orexo AB's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Orexo AB's price. Additionally, you may evaluate how the addition of Orexo AB to your portfolios can decrease your overall portfolio volatility.