Correlation Between Nordea 1 and Nordea 1
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By analyzing existing cross correlation between Nordea 1 and Nordea 1 , you can compare the effects of market volatilities on Nordea 1 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 Nordea 1 with a short position of Nordea 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea 1 and Nordea 1.
Diversification Opportunities for Nordea 1 and Nordea 1
Very weak diversification
The 3 months correlation between Nordea and Nordea is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Nordea 1 and Nordea 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea 1 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 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 has no effect on the direction of Nordea 1 i.e., Nordea 1 and Nordea 1 go up and down completely randomly.
Pair Corralation between Nordea 1 and Nordea 1
Assuming the 90 days trading horizon Nordea 1 is expected to generate 0.72 times more return on investment than Nordea 1. However, Nordea 1 is 1.39 times less risky than Nordea 1. It trades about -0.04 of its potential returns per unit of risk. Nordea 1 is currently generating about -0.18 per unit of risk. If you would invest 231,152 in Nordea 1 on November 28, 2024 and sell it today you would lose (936.00) from holding Nordea 1 or give up 0.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nordea 1 vs. Nordea 1
Performance |
| Timeline |
| Nordea 1 |
| Nordea 1 |
Nordea 1 and Nordea 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea 1 and Nordea 1
The main advantage of trading using opposite Nordea 1 and Nordea 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea 1 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.| Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. KLP Aksje Fremvoksende |
| Nordea 1 vs. KLP AksjeNorge Indeks | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Nordnet Teknologi Indeks | Nordea 1 vs. DNB Norge Selektiv |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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