Correlation Between BEKA LUX and Nordea 1
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By analyzing existing cross correlation between BEKA LUX SICAV and Nordea 1 SICAV, you can compare the effects of market volatilities on BEKA LUX 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 BEKA LUX with a short position of Nordea 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of BEKA LUX and Nordea 1.
Diversification Opportunities for BEKA LUX and Nordea 1
Pay attention - limited upside
The 3 months correlation between BEKA and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BEKA LUX SICAV 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 BEKA LUX 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 BEKA LUX SICAV 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 BEKA LUX i.e., BEKA LUX and Nordea 1 go up and down completely randomly.
Pair Corralation between BEKA LUX and Nordea 1
If you would invest (100.00) in Nordea 1 SICAV on October 28, 2024 and sell it today you would earn a total of 100.00 from holding Nordea 1 SICAV 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 |
BEKA LUX SICAV vs. Nordea 1 SICAV
Performance |
| Timeline |
| BEKA LUX SICAV |
| Nordea 1 SICAV |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
BEKA LUX and Nordea 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BEKA LUX and Nordea 1
The main advantage of trading using opposite BEKA LUX and Nordea 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BEKA LUX 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.| BEKA LUX vs. Groupama Entreprises N | BEKA LUX vs. Renaissance Europe C | BEKA LUX vs. Superior Plus Corp | BEKA LUX vs. Origin Agritech |
| 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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