Correlation Between Nordnet One and Storebrand Global
Specify exactly 2 symbols:
By analyzing existing cross correlation between Nordnet One Forsiktig and Storebrand Global Solutions, you can compare the effects of market volatilities on Nordnet One and Storebrand Global 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 Nordnet One with a short position of Storebrand Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordnet One and Storebrand Global.
Diversification Opportunities for Nordnet One and Storebrand Global
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Nordnet and Storebrand is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Nordnet One Forsiktig and Storebrand Global Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Storebrand Global and Nordnet One 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 Nordnet One Forsiktig are associated (or correlated) with Storebrand Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Storebrand Global has no effect on the direction of Nordnet One i.e., Nordnet One and Storebrand Global go up and down completely randomly.
Pair Corralation between Nordnet One and Storebrand Global
Assuming the 90 days trading horizon Nordnet One Forsiktig is expected to generate 0.29 times more return on investment than Storebrand Global. However, Nordnet One Forsiktig is 3.49 times less risky than Storebrand Global. It trades about 0.26 of its potential returns per unit of risk. Storebrand Global Solutions is currently generating about 0.05 per unit of risk. If you would invest 12,586 in Nordnet One Forsiktig on November 28, 2024 and sell it today you would earn a total of 121.00 from holding Nordnet One Forsiktig or generate 0.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Nordnet One Forsiktig vs. Storebrand Global Solutions
Performance |
| Timeline |
| Nordnet One Forsiktig |
| Storebrand Global |
Nordnet One and Storebrand Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordnet One and Storebrand Global
The main advantage of trading using opposite Nordnet One and Storebrand Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordnet One position performs unexpectedly, Storebrand Global 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 Storebrand Global will offset losses from the drop in Storebrand Global's long position.| Nordnet One vs. Nordnet One Balansert | Nordnet One vs. KLP AksjeNorge Indeks | Nordnet One vs. Storebrand Global Solutions | Nordnet One vs. Nordea 1 |
| Storebrand Global vs. KLP AksjeNorge Indeks | Storebrand Global vs. Nordea 1 | Storebrand Global vs. Franklin Floating Rate | Storebrand Global vs. KLP AksjeGlobal Flerfaktor |
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.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Stocks Directory Find actively traded stocks across global markets | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |