Correlation Between BankIn Bredygt and Jyske Invest

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both BankIn Bredygt and Jyske Invest at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining BankIn Bredygt and Jyske Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BankIn Bredygt Klimaakt and Jyske Invest Nye, you can compare the effects of market volatilities on BankIn Bredygt 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 BankIn Bredygt with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankIn Bredygt and Jyske Invest.

Diversification Opportunities for BankIn Bredygt and Jyske Invest

0.26
  Correlation Coefficient

Modest diversification

The 3 months correlation between BankIn and Jyske is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding BankIn Bredygt Klimaakt 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 BankIn Bredygt 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 BankIn Bredygt Klimaakt 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 BankIn Bredygt i.e., BankIn Bredygt and Jyske Invest go up and down completely randomly.

Pair Corralation between BankIn Bredygt and Jyske Invest

Assuming the 90 days trading horizon BankIn Bredygt Klimaakt is expected to generate 1.86 times more return on investment than Jyske Invest. However, BankIn Bredygt is 1.86 times more volatile than Jyske Invest Nye. It trades about 0.01 of its potential returns per unit of risk. Jyske Invest Nye is currently generating about -0.07 per unit of risk. If you would invest  9,872  in BankIn Bredygt Klimaakt on December 4, 2024 and sell it today you would earn a total of  138.00  from holding BankIn Bredygt Klimaakt or generate 1.4% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy19.52%
ValuesDaily Returns

BankIn Bredygt Klimaakt  vs.  Jyske Invest Nye

 Performance 
       Timeline  
BankIn Bredygt Klimaakt 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days BankIn Bredygt Klimaakt has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's forward indicators remain somewhat strong which may send shares a bit higher in April 2025. The current disturbance may also be a sign of long term up-swing for the company investors.
Jyske Invest Nye 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Jyske Invest Nye has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, Jyske Invest is not utilizing all of its potentials. The recent stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

BankIn Bredygt and Jyske Invest Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with BankIn Bredygt and Jyske Invest

The main advantage of trading using opposite BankIn Bredygt and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankIn Bredygt 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.
BankIn Bredygt vs. Scandinavian Investment Group
BankIn Bredygt vs. Djurslands Bank
BankIn Bredygt vs. Skjern Bank AS
BankIn Bredygt vs. BankInv Kort HY
The idea behind BankIn Bredygt Klimaakt and Jyske Invest Nye pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
Jyske Invest vs. Groenlandsbanken AS
Jyske Invest vs. Nordinvestments AS
Jyske Invest vs. Cessatech AS
Jyske Invest vs. Sydbank 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.

Other Complementary Tools

Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.
Equity Search
Search for actively traded equities including funds and ETFs from over 30 global markets
Options Analysis
Analyze and evaluate options and option chains as a potential hedge for your portfolios
Portfolio Anywhere
Track or share privately all of your investments from the convenience of any device
Premium Stories
Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope


 
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY