Correlation Between BankInv GloAkColum and BankInvest Value
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By analyzing existing cross correlation between BankInv GloAkColum Threadndl and BankInvest Value Globale, you can compare the effects of market volatilities on BankInv GloAkColum and BankInvest Value 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 BankInv GloAkColum with a short position of BankInvest Value. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInv GloAkColum and BankInvest Value.
Diversification Opportunities for BankInv GloAkColum and BankInvest Value
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between BankInv and BankInvest is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding BankInv GloAkColum Threadndl and BankInvest Value Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Value Globale and BankInv GloAkColum 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 BankInv GloAkColum Threadndl are associated (or correlated) with BankInvest Value. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Value Globale has no effect on the direction of BankInv GloAkColum i.e., BankInv GloAkColum and BankInvest Value go up and down completely randomly.
Pair Corralation between BankInv GloAkColum and BankInvest Value
Assuming the 90 days trading horizon BankInv GloAkColum is expected to generate 1.18 times less return on investment than BankInvest Value. In addition to that, BankInv GloAkColum is 1.08 times more volatile than BankInvest Value Globale. It trades about 0.07 of its total potential returns per unit of risk. BankInvest Value Globale is currently generating about 0.09 per unit of volatility. If you would invest 8,842 in BankInvest Value Globale on August 29, 2024 and sell it today you would earn a total of 1,988 from holding BankInvest Value Globale or generate 22.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 52.09% |
| Values | Daily Returns |
BankInv GloAkColum Threadndl vs. BankInvest Value Globale
Performance |
| Timeline |
| BankInv GloAkColum |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| BankInvest Value Globale |
BankInv GloAkColum and BankInvest Value Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInv GloAkColum and BankInvest Value
The main advantage of trading using opposite BankInv GloAkColum and BankInvest Value positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInv GloAkColum position performs unexpectedly, BankInvest Value 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 Value will offset losses from the drop in BankInvest Value's long position.| BankInv GloAkColum vs. MapsPeople AS | BankInv GloAkColum vs. Penneo AS | BankInv GloAkColum vs. Dataproces Group AS | BankInv GloAkColum vs. Orderyoyo AS |
| BankInvest Value vs. Sydbank AS | BankInvest Value vs. Jyske Bank AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. Embla Medical hf |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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