Correlation Between PF Atlantic and Nykredit Invest
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By analyzing existing cross correlation between PF Atlantic Petroleum and Nykredit Invest Korte, you can compare the effects of market volatilities on PF Atlantic and Nykredit 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 PF Atlantic with a short position of Nykredit Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and Nykredit Invest.
Diversification Opportunities for PF Atlantic and Nykredit Invest
-0.93 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ATLA-DKK and Nykredit is -0.93. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and Nykredit Invest Korte in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nykredit Invest Korte and PF Atlantic 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 PF Atlantic Petroleum are associated (or correlated) with Nykredit Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nykredit Invest Korte has no effect on the direction of PF Atlantic i.e., PF Atlantic and Nykredit Invest go up and down completely randomly.
Pair Corralation between PF Atlantic and Nykredit Invest
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to under-perform the Nykredit Invest. In addition to that, PF Atlantic is 51.43 times more volatile than Nykredit Invest Korte. It trades about -0.13 of its total potential returns per unit of risk. Nykredit Invest Korte is currently generating about 0.27 per unit of volatility. If you would invest 9,900 in Nykredit Invest Korte on September 13, 2024 and sell it today you would earn a total of 38.00 from holding Nykredit Invest Korte or generate 0.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. Nykredit Invest Korte
Performance |
| Timeline |
| PF Atlantic Petroleum |
| Nykredit Invest Korte |
PF Atlantic and Nykredit Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and Nykredit Invest
The main advantage of trading using opposite PF Atlantic and Nykredit Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, Nykredit 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 Nykredit Invest will offset losses from the drop in Nykredit Invest's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. Orphazyme AS | PF Atlantic vs. TORM plc |
| Nykredit Invest vs. Novo Nordisk AS | Nykredit Invest vs. Nordea Bank Abp | Nykredit Invest vs. DSV Panalpina AS | Nykredit Invest vs. AP Mller |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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