Correlation Between Nordea 1 and Lord Abbett
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By analyzing existing cross correlation between Nordea 1 and Lord Abbett Multi, you can compare the effects of market volatilities on Nordea 1 and Lord Abbett 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 Nordea 1 with a short position of Lord Abbett. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea 1 and Lord Abbett.
Diversification Opportunities for Nordea 1 and Lord Abbett
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Nordea and Lord is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nordea 1 and Lord Abbett Multi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lord Abbett Multi and Nordea 1 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 Nordea 1 are associated (or correlated) with Lord Abbett. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lord Abbett Multi has no effect on the direction of Nordea 1 i.e., Nordea 1 and Lord Abbett go up and down completely randomly.
Pair Corralation between Nordea 1 and Lord Abbett
If you would invest (100.00) in Lord Abbett Multi on November 28, 2024 and sell it today you would earn a total of 100.00 from holding Lord Abbett Multi or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Nordea 1 vs. Lord Abbett Multi
Performance |
| Timeline |
| Nordea 1 |
| Lord Abbett Multi |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Nordea 1 and Lord Abbett Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea 1 and Lord Abbett
The main advantage of trading using opposite Nordea 1 and Lord Abbett positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea 1 position performs unexpectedly, Lord Abbett 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 Lord Abbett will offset losses from the drop in Lord Abbett's long position.| Nordea 1 vs. KLP AksjeNorge Indeks | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Nordnet Teknologi Indeks | Nordea 1 vs. DNB Norge Selektiv |
| Lord Abbett vs. KLP AksjeNorge Indeks | Lord Abbett vs. Nordea 1 | Lord Abbett vs. Franklin Floating Rate | Lord Abbett vs. Nordnet Teknologi Indeks |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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