Jyske Invest Correlations

JYIVIRK Stock

DKK 93.62 0.30 0.32%

The current 90-days correlation between Jyske Invest Virksom and Novo Nordisk AS is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jyske Invest moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jyske Invest Virksomhedsobligationer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Jyske Invest Correlation With Market

Average diversification

The correlation between Jyske Invest Virksomhedsobliga and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Virksomhedsobliga and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Jyske Invest could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jyske Invest 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 Jyske Invest - 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 Jyske Invest Virksomhedsobligationer to buy it.

Moving together with Jyske Stock

0.75	DSV	DSV Panalpina AS	Pair Corr
0.85	DKIGLOVO	Danske Invest	Pair Corr
0.83	MAJDKO	Maj Invest	Pair Corr
0.79	MAJPEN	Maj Invest Pension	Pair Corr
0.72	DKINYM	Investeringsforeningen	Pair Corr

Moving against Jyske Stock

0.79	GMAB	Genmab AS	Pair Corr
0.74	NOVO-B	Novo Nordisk AS	Pair Corr
0.6	VWS	Vestas Wind Systems	Pair Corr
0.59	ESG	Ennogie Solar Group	Pair Corr
0.55	CONFRZ	Conferize AS	Pair Corr
0.52	COLO-B	Coloplast AS	Pair Corr

Related Correlations Analysis

	NOVO-B	NDA-DK	DSV	MAERSK-B	MAERSK-A	ORSTED	VWS	GMAB	COLO-B	CARL-B
NOVO-B		-0.36	-0.81	-0.66	-0.63	0.2	0.85	0.93	0.59	0.56	NOVO-B
NDA-DK	-0.36		0.29	0.37	0.35	-0.22	-0.35	-0.33	0.02	-0.25	NDA-DK
DSV	-0.81	0.29		0.41	0.38	0.15	-0.64	-0.89	-0.56	-0.24	DSV
MAERSK-B	-0.66	0.37	0.41		1.0	-0.39	-0.65	-0.67	-0.25	-0.71	MAERSK-B
MAERSK-A	-0.63	0.35	0.38	1.0		-0.4	-0.63	-0.65	-0.23	-0.7	MAERSK-A
ORSTED	0.2	-0.22	0.15	-0.39	-0.4		0.55	0.02	-0.32	0.73	ORSTED
VWS	0.85	-0.35	-0.64	-0.65	-0.63	0.55		0.77	0.23	0.74	VWS
GMAB	0.93	-0.33	-0.89	-0.67	-0.65	0.02	0.77		0.65	0.45	GMAB
COLO-B	0.59	0.02	-0.56	-0.25	-0.23	-0.32	0.23	0.65		0.0	COLO-B
CARL-B	0.56	-0.25	-0.24	-0.71	-0.7	0.73	0.74	0.45	0.0		CARL-B
	NOVO-B	NDA-DK	DSV	MAERSK-B	MAERSK-A	ORSTED	VWS	GMAB	COLO-B	CARL-B

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MAERSK-A	+ 1.0	MAERSK-B
GMAB	+ 0.93	NOVO-B
VWS	+ 0.85	NOVO-B
GMAB	+ 0.77	VWS
CARL-B	+ 0.74	VWS
CARL-B	+ 0.73	ORSTED

High negative correlations

GMAB	- 0.89	DSV
DSV	- 0.81	NOVO-B
CARL-B	- 0.71	MAERSK-B
CARL-B	- 0.7	MAERSK-A
GMAB	- 0.67	MAERSK-B
MAERSK-B	- 0.66	NOVO-B

Risk-Adjusted Indicators

There is a big difference between Jyske Stock performing well and Jyske Invest Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Jyske Invest's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NOVO-B	1.47	(0.35)	0.00	(0.53)	0.00	0.00	2.66	(3.23)	9.15
NDA-DK	0.84	(0.04)	(0.12)	0.00	0.97	(0.97)	1.53	(1.58)	7.98
DSV	1.15	0.27	0.18	1.05	0.73	(1.44)	2.66	(1.43)	12.28
MAERSK-B	2.09	0.32	0.04	(0.25)	2.26	(2.38)	4.03	(3.61)	14.21
MAERSK-A	1.96	0.30	0.03	(0.20)	2.18	(2.22)	3.84	(3.29)	14.30
ORSTED	1.67	0.20	(0.03)	(0.04)	2.80	(1.73)	4.06	(3.27)	18.80
VWS	2.01	(0.52)	0.00	0.65	0.00	0.00	3.32	(4.63)	17.28
GMAB	0.99	(0.34)	0.00	(1.46)	0.00	0.00	1.53	(2.83)	8.81
COLO-B	1.20	(0.11)	0.00	(0.12)	0.00	0.00	2.11	(2.35)	6.72
CARL-B	1.22	(0.08)	0.00	(0.25)	0.00	0.00	2.68	(2.59)	7.87

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Our tools can tell you how much better you can do entering a position in Jyske Invest without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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