Correlation Between JANUS TWEN and Nordea 1
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By analyzing existing cross correlation between JANUS TWEN A ACC and Nordea 1 , you can compare the effects of market volatilities on JANUS TWEN 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 JANUS TWEN with a short position of Nordea 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of JANUS TWEN and Nordea 1.
Diversification Opportunities for JANUS TWEN and Nordea 1
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JANUS and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JANUS TWEN A ACC and Nordea 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea 1 and JANUS TWEN 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 JANUS TWEN A ACC 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 JANUS TWEN i.e., JANUS TWEN and Nordea 1 go up and down completely randomly.
Pair Corralation between JANUS TWEN and Nordea 1
If you would invest 32,901 in Nordea 1 on September 15, 2024 and sell it today you would earn a total of 7,469 from holding Nordea 1 or generate 22.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
JANUS TWEN A ACC vs. Nordea 1
Performance |
| Timeline |
| JANUS TWEN A |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Nordea 1 |
JANUS TWEN and Nordea 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JANUS TWEN and Nordea 1
The main advantage of trading using opposite JANUS TWEN and Nordea 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JANUS TWEN 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.| JANUS TWEN vs. KLP AksjeNorge Indeks | JANUS TWEN vs. Nordea 1 | JANUS TWEN vs. Franklin Floating Rate | JANUS TWEN vs. Nordnet One Forsiktig |
| Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Dalata Hotel Group |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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