Correlation Between BankInv Kort and Jyske Invest
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By analyzing existing cross correlation between BankInv Kort HY and Jyske Invest Nye, you can compare the effects of market volatilities on BankInv Kort and Jyske Invest 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 Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInv Kort and Jyske Invest.
Diversification Opportunities for BankInv Kort and Jyske Invest
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between BankInv and Jyske is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding BankInv Kort HY and Jyske Invest Nye in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Nye 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 Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Nye has no effect on the direction of BankInv Kort i.e., BankInv Kort and Jyske Invest go up and down completely randomly.
Pair Corralation between BankInv Kort and Jyske Invest
Assuming the 90 days trading horizon BankInv Kort HY is expected to generate 0.47 times more return on investment than Jyske Invest. However, BankInv Kort HY is 2.13 times less risky than Jyske Invest. It trades about 0.1 of its potential returns per unit of risk. Jyske Invest Nye is currently generating about 0.01 per unit of risk. If you would invest 10,340 in BankInv Kort HY on October 24, 2024 and sell it today you would earn a total of 30.00 from holding BankInv Kort HY or generate 0.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInv Kort HY vs. Jyske Invest Nye
Performance |
| Timeline |
| BankInv Kort HY |
| Jyske Invest Nye |
BankInv Kort and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInv Kort and Jyske Invest
The main advantage of trading using opposite BankInv Kort and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInv Kort position performs unexpectedly, Jyske Invest 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 Invest will offset losses from the drop in Jyske Invest's long position.| BankInv Kort vs. Prime Office AS | BankInv Kort vs. Nordea Bank Abp | BankInv Kort vs. Alefarm Brewing AS | BankInv Kort vs. Groenlandsbanken AS |
| Jyske Invest vs. Djurslands Bank | Jyske Invest vs. Vestjysk Bank AS | Jyske Invest vs. BankInv Kort HY | Jyske Invest vs. Formuepleje Mix Medium |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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