Correlation Between BankInv GloAkColum and BankInvest Optima
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By analyzing existing cross correlation between BankInv GloAkColum Threadndl and BankInvest Optima 30, you can compare the effects of market volatilities on BankInv GloAkColum and BankInvest Optima 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 Optima. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInv GloAkColum and BankInvest Optima.
Diversification Opportunities for BankInv GloAkColum and BankInvest Optima
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BankInv and BankInvest is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding BankInv GloAkColum Threadndl and BankInvest Optima 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Optima 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 Optima. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Optima has no effect on the direction of BankInv GloAkColum i.e., BankInv GloAkColum and BankInvest Optima go up and down completely randomly.
Pair Corralation between BankInv GloAkColum and BankInvest Optima
Assuming the 90 days trading horizon BankInv GloAkColum Threadndl is expected to generate 2.25 times more return on investment than BankInvest Optima. However, BankInv GloAkColum is 2.25 times more volatile than BankInvest Optima 30. It trades about 0.07 of its potential returns per unit of risk. BankInvest Optima 30 is currently generating about 0.14 per unit of risk. If you would invest 13,060 in BankInv GloAkColum Threadndl on August 29, 2024 and sell it today you would earn a total of 1,200 from holding BankInv GloAkColum Threadndl or generate 9.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 65.85% |
| Values | Daily Returns |
BankInv GloAkColum Threadndl vs. BankInvest Optima 30
Performance |
| Timeline |
| BankInv GloAkColum |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| BankInvest Optima |
BankInv GloAkColum and BankInvest Optima Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInv GloAkColum and BankInvest Optima
The main advantage of trading using opposite BankInv GloAkColum and BankInvest Optima positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInv GloAkColum position performs unexpectedly, BankInvest Optima 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 Optima will offset losses from the drop in BankInvest Optima's long position.| BankInv GloAkColum vs. Novo Nordisk AS | BankInv GloAkColum vs. Nordea Bank Abp | BankInv GloAkColum vs. DSV Panalpina AS | BankInv GloAkColum vs. AP Mller |
| BankInvest Optima vs. Ringkjoebing Landbobank AS | BankInvest Optima vs. Vestjysk Bank AS | BankInvest Optima vs. Sydbank AS | BankInvest Optima vs. Carnegie Wealth Management |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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