Correlation Between BankIn Bredygt and Nordea Invest
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By analyzing existing cross correlation between BankIn Bredygt Klimaakt and Nordea Invest Danske, you can compare the effects of market volatilities on BankIn Bredygt and Nordea 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 Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankIn Bredygt and Nordea Invest.
Diversification Opportunities for BankIn Bredygt and Nordea Invest
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BankIn and Nordea is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding BankIn Bredygt Klimaakt and Nordea Invest Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Danske 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 Nordea Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Invest Danske has no effect on the direction of BankIn Bredygt i.e., BankIn Bredygt and Nordea Invest go up and down completely randomly.
Pair Corralation between BankIn Bredygt and Nordea Invest
Assuming the 90 days trading horizon BankIn Bredygt Klimaakt is expected to generate 1.69 times more return on investment than Nordea Invest. However, BankIn Bredygt is 1.69 times more volatile than Nordea Invest Danske. It trades about 0.03 of its potential returns per unit of risk. Nordea Invest Danske is currently generating about 0.0 per unit of risk. If you would invest 9,872 in BankIn Bredygt Klimaakt on September 22, 2024 and sell it today you would earn a total of 713.00 from holding BankIn Bredygt Klimaakt or generate 7.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 36.75% |
| Values | Daily Returns |
BankIn Bredygt Klimaakt vs. Nordea Invest Danske
Performance |
| Timeline |
| BankIn Bredygt Klimaakt |
| Nordea Invest Danske |
BankIn Bredygt and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankIn Bredygt and Nordea Invest
The main advantage of trading using opposite BankIn Bredygt and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankIn Bredygt position performs unexpectedly, Nordea 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 Nordea Invest will offset losses from the drop in Nordea Invest's long position.| BankIn Bredygt vs. Novo Nordisk AS | BankIn Bredygt vs. Nordea Bank Abp | BankIn Bredygt vs. DSV Panalpina AS | BankIn Bredygt vs. AP Mller |
| Nordea Invest vs. Alefarm Brewing AS | Nordea Invest vs. Carnegie Wealth Management | Nordea Invest vs. NTG Nordic Transport | Nordea Invest vs. Prime Office 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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