Correlation Between BankInv GloAkColum and Ringkjoebing Landbobank
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By analyzing existing cross correlation between BankInv GloAkColum Threadndl and Ringkjoebing Landbobank AS, you can compare the effects of market volatilities on BankInv GloAkColum and Ringkjoebing Landbobank 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 Ringkjoebing Landbobank. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInv GloAkColum and Ringkjoebing Landbobank.
Diversification Opportunities for BankInv GloAkColum and Ringkjoebing Landbobank
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BankInv and Ringkjoebing is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding BankInv GloAkColum Threadndl and Ringkjoebing Landbobank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ringkjoebing Landbobank 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 Ringkjoebing Landbobank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ringkjoebing Landbobank has no effect on the direction of BankInv GloAkColum i.e., BankInv GloAkColum and Ringkjoebing Landbobank go up and down completely randomly.
Pair Corralation between BankInv GloAkColum and Ringkjoebing Landbobank
Assuming the 90 days trading horizon BankInv GloAkColum Threadndl is expected to generate 1.1 times more return on investment than Ringkjoebing Landbobank. However, BankInv GloAkColum is 1.1 times more volatile than Ringkjoebing Landbobank AS. It trades about 0.06 of its potential returns per unit of risk. Ringkjoebing Landbobank AS is currently generating about 0.03 per unit of risk. If you would invest 14,115 in BankInv GloAkColum Threadndl on August 29, 2024 and sell it today you would earn a total of 145.00 from holding BankInv GloAkColum Threadndl or generate 1.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 77.27% |
| Values | Daily Returns |
BankInv GloAkColum Threadndl vs. Ringkjoebing Landbobank AS
Performance |
| Timeline |
| BankInv GloAkColum |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| Ringkjoebing Landbobank |
BankInv GloAkColum and Ringkjoebing Landbobank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInv GloAkColum and Ringkjoebing Landbobank
The main advantage of trading using opposite BankInv GloAkColum and Ringkjoebing Landbobank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInv GloAkColum position performs unexpectedly, Ringkjoebing Landbobank 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 Ringkjoebing Landbobank will offset losses from the drop in Ringkjoebing Landbobank's long position.| BankInv GloAkColum vs. MapsPeople AS | BankInv GloAkColum vs. Penneo AS | BankInv GloAkColum vs. Dataproces Group AS | BankInv GloAkColum vs. Orderyoyo AS |
| Ringkjoebing Landbobank vs. Dataproces Group AS | Ringkjoebing Landbobank vs. cBrain AS | Ringkjoebing Landbobank vs. ALK Abell AS | Ringkjoebing Landbobank vs. ChemoMetec AS |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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