Correlation Between DNB Norge and INVESCO 2
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By analyzing existing cross correlation between DNB Norge Selektiv and INVESCO 2 BOND, you can compare the effects of market volatilities on DNB Norge and INVESCO 2 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 DNB Norge with a short position of INVESCO 2. Check out your portfolio center. Please also check ongoing floating volatility patterns of DNB Norge and INVESCO 2.
Diversification Opportunities for DNB Norge and INVESCO 2
Pay attention - limited upside
The 3 months correlation between DNB and INVESCO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DNB Norge Selektiv and INVESCO 2 BOND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INVESCO 2 BOND and DNB Norge 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 DNB Norge Selektiv are associated (or correlated) with INVESCO 2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INVESCO 2 BOND has no effect on the direction of DNB Norge i.e., DNB Norge and INVESCO 2 go up and down completely randomly.
Pair Corralation between DNB Norge and INVESCO 2
If you would invest 168,014 in DNB Norge Selektiv on September 15, 2024 and sell it today you would earn a total of 238.00 from holding DNB Norge Selektiv or generate 0.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
DNB Norge Selektiv vs. INVESCO 2 BOND
Performance |
| Timeline |
| DNB Norge Selektiv |
| INVESCO 2 BOND |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
DNB Norge and INVESCO 2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DNB Norge and INVESCO 2
The main advantage of trading using opposite DNB Norge and INVESCO 2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DNB Norge position performs unexpectedly, INVESCO 2 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 INVESCO 2 will offset losses from the drop in INVESCO 2's long position.| DNB Norge vs. Franklin Floating Rate | DNB Norge vs. Franklin Floating Rate | DNB Norge vs. Franklin Floating Rate | DNB Norge vs. Dalata Hotel Group |
| INVESCO 2 vs. KLP AksjeNorge Indeks | INVESCO 2 vs. Nordea 1 | INVESCO 2 vs. Franklin Floating Rate | INVESCO 2 vs. Nordnet One Forsiktig |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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