Correlation Between Armada Hflr and Nordea Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Armada Hflr Pr and Nordea Invest Stabile, you can compare the effects of market volatilities on Armada Hflr and Nordea Invest 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 Armada Hflr with a short position of Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Armada Hflr and Nordea Invest.
Diversification Opportunities for Armada Hflr and Nordea Invest
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Armada and Nordea is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Armada Hflr Pr and Nordea Invest Stabile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Stabile and Armada Hflr 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 Armada Hflr Pr are associated (or correlated) with Nordea Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Invest Stabile has no effect on the direction of Armada Hflr i.e., Armada Hflr and Nordea Invest go up and down completely randomly.
Pair Corralation between Armada Hflr and Nordea Invest
Considering the 90-day investment horizon Armada Hflr Pr is expected to under-perform the Nordea Invest. In addition to that, Armada Hflr is 2.32 times more volatile than Nordea Invest Stabile. It trades about -0.02 of its total potential returns per unit of risk. Nordea Invest Stabile is currently generating about 0.06 per unit of volatility. If you would invest 28,920 in Nordea Invest Stabile on December 7, 2024 and sell it today you would earn a total of 2,400 from holding Nordea Invest Stabile or generate 8.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.18% |
| Values | Daily Returns |
Armada Hflr Pr vs. Nordea Invest Stabile
Performance |
| Timeline |
| Armada Hflr Pr |
| Nordea Invest Stabile |
Armada Hflr and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Armada Hflr and Nordea Invest
The main advantage of trading using opposite Armada Hflr and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Armada Hflr position performs unexpectedly, Nordea Invest 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 Invest will offset losses from the drop in Nordea Invest's long position.| Armada Hflr vs. Modiv Inc | Armada Hflr vs. Precinct Properties New | Armada Hflr vs. Global Net Lease | Armada Hflr vs. NexPoint Diversified Real |
| Nordea Invest vs. Nordea Bank Abp | Nordea Invest vs. Cessatech AS | Nordea Invest vs. North Media AS | Nordea Invest vs. Alefarm Brewing AS |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |