Correlation Between BankInvest Hjt and BankInvest Danske
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By analyzing existing cross correlation between BankInvest Hjt and BankInvest Danske, you can compare the effects of market volatilities on BankInvest Hjt and BankInvest Danske 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 BankInvest Hjt with a short position of BankInvest Danske. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Hjt and BankInvest Danske.
Diversification Opportunities for BankInvest Hjt and BankInvest Danske
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between BankInvest and BankInvest is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Hjt and BankInvest Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Danske and BankInvest Hjt 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 BankInvest Hjt are associated (or correlated) with BankInvest Danske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Danske has no effect on the direction of BankInvest Hjt i.e., BankInvest Hjt and BankInvest Danske go up and down completely randomly.
Pair Corralation between BankInvest Hjt and BankInvest Danske
Assuming the 90 days trading horizon BankInvest Hjt is expected to generate 0.75 times more return on investment than BankInvest Danske. However, BankInvest Hjt is 1.34 times less risky than BankInvest Danske. It trades about 0.0 of its potential returns per unit of risk. BankInvest Danske is currently generating about -0.04 per unit of risk. If you would invest 15,935 in BankInvest Hjt on September 12, 2024 and sell it today you would lose (10.00) from holding BankInvest Hjt or give up 0.06% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInvest Hjt vs. BankInvest Danske
Performance |
| Timeline |
| BankInvest Hjt |
| BankInvest Danske |
BankInvest Hjt and BankInvest Danske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Hjt and BankInvest Danske
The main advantage of trading using opposite BankInvest Hjt and BankInvest Danske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Hjt position performs unexpectedly, BankInvest Danske 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 Danske will offset losses from the drop in BankInvest Danske's long position.| BankInvest Hjt vs. Jyske Invest Nye | BankInvest Hjt vs. Jyske Invest Korte | BankInvest Hjt vs. Jyske Invest Nye | BankInvest Hjt vs. Jyske Invest Virksomhedsobligationer |
| BankInvest Danske vs. Jyske Invest Nye | BankInvest Danske vs. Jyske Invest Korte | BankInvest Danske vs. Jyske Invest Nye | BankInvest Danske vs. Jyske Invest Virksomhedsobligationer |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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