Correlation Between JANUS TWEN and DNB Norge
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By analyzing existing cross correlation between JANUS TWEN A ACC and DNB Norge Selektiv, you can compare the effects of market volatilities on JANUS TWEN and DNB Norge 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 DNB Norge. Check out your portfolio center. Please also check ongoing floating volatility patterns of JANUS TWEN and DNB Norge.
Diversification Opportunities for JANUS TWEN and DNB Norge
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JANUS and DNB is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JANUS TWEN A ACC and DNB Norge Selektiv in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DNB Norge Selektiv 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 DNB Norge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DNB Norge Selektiv has no effect on the direction of JANUS TWEN i.e., JANUS TWEN and DNB Norge go up and down completely randomly.
Pair Corralation between JANUS TWEN and DNB Norge
If you would invest 169,254 in DNB Norge Selektiv on November 2, 2024 and sell it today you would earn a total of 3,048 from holding DNB Norge Selektiv or generate 1.8% 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. DNB Norge Selektiv
Performance |
| Timeline |
| JANUS TWEN A |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| DNB Norge Selektiv |
JANUS TWEN and DNB Norge Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JANUS TWEN and DNB Norge
The main advantage of trading using opposite JANUS TWEN and DNB Norge positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JANUS TWEN position performs unexpectedly, DNB Norge 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 DNB Norge will offset losses from the drop in DNB Norge's long position.| JANUS TWEN vs. Franklin Floating Rate | JANUS TWEN vs. KLP AksjeNorge Indeks | JANUS TWEN vs. Storebrand Global Solutions | JANUS TWEN vs. Nordnet Teknologi Indeks |
| DNB Norge vs. Franklin Floating Rate | DNB Norge vs. Franklin Floating Rate | DNB Norge vs. Franklin Floating Rate | DNB Norge 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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