Correlation Between BankInv GloAkColum and Jyske Bank
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By analyzing existing cross correlation between BankInv GloAkColum Threadndl and Jyske Bank AS, you can compare the effects of market volatilities on BankInv GloAkColum and Jyske Bank 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 Jyske Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInv GloAkColum and Jyske Bank.
Diversification Opportunities for BankInv GloAkColum and Jyske Bank
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BankInv and Jyske is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding BankInv GloAkColum Threadndl and Jyske Bank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Bank AS 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 Jyske Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Bank AS has no effect on the direction of BankInv GloAkColum i.e., BankInv GloAkColum and Jyske Bank go up and down completely randomly.
Pair Corralation between BankInv GloAkColum and Jyske Bank
Assuming the 90 days trading horizon BankInv GloAkColum Threadndl is expected to generate 0.49 times more return on investment than Jyske Bank. However, BankInv GloAkColum Threadndl is 2.03 times less risky than Jyske Bank. It trades about 0.12 of its potential returns per unit of risk. Jyske Bank AS is currently generating about -0.09 per unit of risk. If you would invest 13,540 in BankInv GloAkColum Threadndl on August 29, 2024 and sell it today you would earn a total of 720.00 from holding BankInv GloAkColum Threadndl or generate 5.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 89.23% |
| Values | Daily Returns |
BankInv GloAkColum Threadndl vs. Jyske Bank AS
Performance |
| Timeline |
| BankInv GloAkColum |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| Jyske Bank AS |
BankInv GloAkColum and Jyske Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInv GloAkColum and Jyske Bank
The main advantage of trading using opposite BankInv GloAkColum and Jyske Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInv GloAkColum position performs unexpectedly, Jyske Bank 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 Jyske Bank will offset losses from the drop in Jyske Bank'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 |
| Jyske Bank vs. Fynske Bank AS | Jyske Bank vs. Ringkjoebing Landbobank AS | Jyske Bank vs. BankIn Bredygt Klimaakt | Jyske Bank vs. Danske Andelskassers Bank |
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 Stocks Directory module to find actively traded stocks across global markets.
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