Correlation Between BankInvest Lange and Jyske Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between BankInvest Lange Danske and Jyske Invest Nye, you can compare the effects of market volatilities on BankInvest Lange 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 BankInvest Lange with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Lange and Jyske Invest.
Diversification Opportunities for BankInvest Lange and Jyske Invest
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BankInvest and Jyske is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Lange Danske 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 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 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 BankInvest Lange i.e., BankInvest Lange and Jyske Invest go up and down completely randomly.
Pair Corralation between BankInvest Lange and Jyske Invest
Assuming the 90 days trading horizon BankInvest Lange is expected to generate 1.37 times less return on investment than Jyske Invest. But when comparing it to its historical volatility, BankInvest Lange Danske is 2.08 times less risky than Jyske Invest. It trades about 0.27 of its potential returns per unit of risk. Jyske Invest Nye is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 9,929 in Jyske Invest Nye on September 13, 2024 and sell it today you would earn a total of 146.00 from holding Jyske Invest Nye or generate 1.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInvest Lange Danske vs. Jyske Invest Nye
Performance |
| Timeline |
| BankInvest Lange Danske |
| Jyske Invest Nye |
BankInvest Lange and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Lange and Jyske Invest
The main advantage of trading using opposite BankInvest Lange and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Lange 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.| BankInvest Lange vs. BankInvest Emerging | BankInvest Lange vs. BankInvest Emerging | BankInvest Lange vs. BankInvest Hjt | BankInvest Lange vs. BankInvest Danske |
| Jyske Invest vs. Jyske Bank AS | Jyske Invest vs. Skjern Bank AS | Jyske Invest vs. Groenlandsbanken AS | Jyske 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Other Complementary Tools
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |