Correlation Between BankInv GloAkColum and Sydbank AS
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By analyzing existing cross correlation between BankInv GloAkColum Threadndl and Sydbank AS, you can compare the effects of market volatilities on BankInv GloAkColum and Sydbank AS 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 Sydbank AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInv GloAkColum and Sydbank AS.
Diversification Opportunities for BankInv GloAkColum and Sydbank AS
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BankInv and Sydbank is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding BankInv GloAkColum Threadndl and Sydbank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sydbank 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 Sydbank AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sydbank AS has no effect on the direction of BankInv GloAkColum i.e., BankInv GloAkColum and Sydbank AS go up and down completely randomly.
Pair Corralation between BankInv GloAkColum and Sydbank AS
Assuming the 90 days trading horizon BankInv GloAkColum is expected to generate 1.78 times less return on investment than Sydbank AS. But when comparing it to its historical volatility, BankInv GloAkColum Threadndl is 1.83 times less risky than Sydbank AS. It trades about 0.07 of its potential returns per unit of risk. Sydbank AS is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 29,741 in Sydbank AS on August 25, 2024 and sell it today you would earn a total of 5,539 from holding Sydbank AS or generate 18.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 86.17% |
| Values | Daily Returns |
BankInv GloAkColum Threadndl vs. Sydbank AS
Performance |
| Timeline |
| BankInv GloAkColum |
| Sydbank AS |
BankInv GloAkColum and Sydbank AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInv GloAkColum and Sydbank AS
The main advantage of trading using opposite BankInv GloAkColum and Sydbank AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInv GloAkColum position performs unexpectedly, Sydbank AS 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 Sydbank AS will offset losses from the drop in Sydbank AS's long position.| BankInv GloAkColum vs. BankInvest Value Globale | BankInv GloAkColum vs. Jyske Bank AS | BankInv GloAkColum vs. Laan Spar Bank | BankInv GloAkColum vs. Kreditbanken AS |
| Sydbank AS vs. Jyske Bank AS | Sydbank AS vs. Tryg AS | Sydbank AS vs. FLSmidth Co | Sydbank AS vs. Nordea Bank Abp |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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