Correlation Between BankInvest Lange and BankInvest Hjt
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By analyzing existing cross correlation between BankInvest Lange Danske and BankInvest Hjt, you can compare the effects of market volatilities on BankInvest Lange and BankInvest Hjt 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 Lange with a short position of BankInvest Hjt. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Lange and BankInvest Hjt.
Diversification Opportunities for BankInvest Lange and BankInvest Hjt
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BankInvest and BankInvest is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Lange Danske and BankInvest Hjt in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Hjt and BankInvest Lange 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 Lange Danske are associated (or correlated) with BankInvest Hjt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Hjt has no effect on the direction of BankInvest Lange i.e., BankInvest Lange and BankInvest Hjt go up and down completely randomly.
Pair Corralation between BankInvest Lange and BankInvest Hjt
Assuming the 90 days trading horizon BankInvest Lange Danske is expected to generate 0.28 times more return on investment than BankInvest Hjt. However, BankInvest Lange Danske is 3.53 times less risky than BankInvest Hjt. It trades about 0.3 of its potential returns per unit of risk. BankInvest Hjt is currently generating about 0.0 per unit of risk. If you would invest 8,888 in BankInvest Lange Danske on September 12, 2024 and sell it today you would earn a total of 108.00 from holding BankInvest Lange Danske or generate 1.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInvest Lange Danske vs. BankInvest Hjt
Performance |
| Timeline |
| BankInvest Lange Danske |
| BankInvest Hjt |
BankInvest Lange and BankInvest Hjt Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Lange and BankInvest Hjt
The main advantage of trading using opposite BankInvest Lange and BankInvest Hjt positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Lange position performs unexpectedly, BankInvest Hjt 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 Hjt will offset losses from the drop in BankInvest Hjt's long position.| BankInvest Lange vs. Jyske Invest Nye | BankInvest Lange vs. Jyske Invest Korte | BankInvest Lange vs. Jyske Invest Nye | BankInvest Lange vs. Jyske Invest Virksomhedsobligationer |
| BankInvest Hjt vs. Jyske Invest Nye | BankInvest Hjt vs. Jyske Invest Korte | BankInvest Hjt vs. Jyske Invest Nye | BankInvest Hjt 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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