Correlation Between BankInv Kort and Hydract AS
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By analyzing existing cross correlation between BankInv Kort HY and Hydract AS, you can compare the effects of market volatilities on BankInv Kort and Hydract 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 Kort with a short position of Hydract AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInv Kort and Hydract AS.
Diversification Opportunities for BankInv Kort and Hydract AS
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BankInv and Hydract is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding BankInv Kort HY and Hydract AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hydract AS and BankInv Kort 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 Kort HY are associated (or correlated) with Hydract AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hydract AS has no effect on the direction of BankInv Kort i.e., BankInv Kort and Hydract AS go up and down completely randomly.
Pair Corralation between BankInv Kort and Hydract AS
Assuming the 90 days trading horizon BankInv Kort HY is expected to generate 0.03 times more return on investment than Hydract AS. However, BankInv Kort HY is 30.09 times less risky than Hydract AS. It trades about 0.15 of its potential returns per unit of risk. Hydract AS is currently generating about 0.0 per unit of risk. If you would invest 10,340 in BankInv Kort HY on November 5, 2024 and sell it today you would earn a total of 85.00 from holding BankInv Kort HY or generate 0.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInv Kort HY vs. Hydract AS
Performance |
| Timeline |
| BankInv Kort HY |
| Hydract AS |
BankInv Kort and Hydract AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInv Kort and Hydract AS
The main advantage of trading using opposite BankInv Kort and Hydract AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInv Kort position performs unexpectedly, Hydract 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 Hydract AS will offset losses from the drop in Hydract AS's long position.| BankInv Kort vs. Skjern Bank AS | BankInv Kort vs. Alefarm Brewing AS | BankInv Kort vs. Formuepleje Mix Medium | BankInv Kort vs. Hvidbjerg Bank |
| Hydract AS vs. Prime Office AS | Hydract AS vs. BankInvest Value Globale | Hydract AS vs. PARKEN Sport Entertainment | Hydract AS vs. Moens Bank 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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