Correlation Between IE00B0H4TS55 and Nordea 1
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By analyzing existing cross correlation between IE00B0H4TS55 and Nordea 1 SICAV, you can compare the effects of market volatilities on IE00B0H4TS55 and Nordea 1 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 IE00B0H4TS55 with a short position of Nordea 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of IE00B0H4TS55 and Nordea 1.
Diversification Opportunities for IE00B0H4TS55 and Nordea 1
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IE00B0H4TS55 and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IE00B0H4TS55 and Nordea 1 SICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea 1 SICAV and IE00B0H4TS55 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 IE00B0H4TS55 are associated (or correlated) with Nordea 1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea 1 SICAV has no effect on the direction of IE00B0H4TS55 i.e., IE00B0H4TS55 and Nordea 1 go up and down completely randomly.
Pair Corralation between IE00B0H4TS55 and Nordea 1
If you would invest 17,995 in IE00B0H4TS55 on August 29, 2024 and sell it today you would earn a total of 627.00 from holding IE00B0H4TS55 or generate 3.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
IE00B0H4TS55 vs. Nordea 1 SICAV
Performance |
| Timeline |
| IE00B0H4TS55 |
| Nordea 1 SICAV |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
IE00B0H4TS55 and Nordea 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IE00B0H4TS55 and Nordea 1
The main advantage of trading using opposite IE00B0H4TS55 and Nordea 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IE00B0H4TS55 position performs unexpectedly, Nordea 1 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 Nordea 1 will offset losses from the drop in Nordea 1's long position.| IE00B0H4TS55 vs. Esfera Robotics R | IE00B0H4TS55 vs. R co Valor F | IE00B0H4TS55 vs. CM AM Monplus NE | IE00B0H4TS55 vs. Echiquier Entrepreneurs G |
| Nordea 1 vs. Esfera Robotics R | Nordea 1 vs. R co Valor F | Nordea 1 vs. CM AM Monplus NE | Nordea 1 vs. IE00B0H4TS55 |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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