Correlation Between ANT and BankInvest Danske
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By analyzing existing cross correlation between ANT and BankInvest Danske, you can compare the effects of market volatilities on ANT and BankInvest Danske 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 ANT with a short position of BankInvest Danske. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANT and BankInvest Danske.
Diversification Opportunities for ANT and BankInvest Danske
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between ANT and BankInvest is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding ANT and BankInvest Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Danske and ANT 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 ANT are associated (or correlated) with BankInvest Danske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Danske has no effect on the direction of ANT i.e., ANT and BankInvest Danske go up and down completely randomly.
Pair Corralation between ANT and BankInvest Danske
Assuming the 90 days trading horizon ANT is expected to generate 67.92 times more return on investment than BankInvest Danske. However, ANT is 67.92 times more volatile than BankInvest Danske. It trades about 0.1 of its potential returns per unit of risk. BankInvest Danske is currently generating about 0.03 per unit of risk. If you would invest 281.00 in ANT on November 2, 2024 and sell it today you would lose (134.00) from holding ANT or give up 47.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 60.57% |
| Values | Daily Returns |
ANT vs. BankInvest Danske
Performance |
| Timeline |
| ANT |
| BankInvest Danske |
ANT and BankInvest Danske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ANT and BankInvest Danske
The main advantage of trading using opposite ANT and BankInvest Danske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANT position performs unexpectedly, BankInvest Danske 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 BankInvest Danske will offset losses from the drop in BankInvest Danske's long position.The idea behind ANT and BankInvest Danske pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| BankInvest Danske vs. BankInvest Emerging | BankInvest Danske vs. BankInvest Emerging | BankInvest Danske vs. BankInvest Lange Danske | BankInvest Danske vs. BankInvest Hjt |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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