Correlation Between Nordea 1 and Lord Abbett
Specify exactly 2 symbols:
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 40,104 in Nordea 1 on November 2, 2024 and sell it today you would earn a total of 621.00 from holding Nordea 1 or generate 1.55% 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
0 of 100
Weak | Strong |
Very Weak
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. Storebrand Global Solutions | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Nordnet Teknologi Indeks |
| Lord Abbett vs. KLP AksjeNorge Indeks | Lord Abbett vs. Storebrand Global Solutions | Lord Abbett vs. Nordea 1 | Lord Abbett vs. Franklin Floating Rate |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |