Correlation Between Delta Air and Bang Olufsen

By analyzing existing cross correlation between Delta Air Lines and Bang Olufsen Holding, you can compare the effects of market volatilities on Delta Air and Bang Olufsen 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 Delta Air with a short position of Bang Olufsen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Air and Bang Olufsen.

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

Diversification Opportunities for Delta Air and Bang Olufsen

  Correlation Coefficient
Delta Air Lines
Bang Olufsen Holding

Pay attention - limited upside

The 3 months correlation between Delta and Bang Olufsen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Delta Air Lines Inc and Bang Olufsen Holding AS in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bang Olufsen Holding and Delta Air 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 Delta Air Lines are associated (or correlated) with Bang Olufsen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bang Olufsen Holding has no effect on the direction of Delta Air i.e. Delta Air and Bang Olufsen go up and down completely randomly.

Pair Corralation between Delta Air and Bang Olufsen

If you would invest  2,232  in Delta Air Lines on June 3, 2020 and sell it today you would earn a total of  540.00  from holding Delta Air Lines or generate 24.19% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns

Delta Air Lines Inc  vs.  Bang Olufsen Holding AS

 Performance (%) 
Delta Air Lines 

Delta Air Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Delta Air Lines are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Delta Air revealed solid returns over the last few months and may actually be approaching a breakup point.
Bang Olufsen Holding 

Bang Olufsen Risk-Adjusted Performance

Over the last 30 days Bang Olufsen Holding has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, Bang Olufsen is not utilizing all of its potentials. The last stock price mess, may contribute to short term losses for the institutional investors.

Delta Air and Bang Olufsen Volatility Contrast

Check out your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.

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