Correlation Between Bankinvest USA and Maj Invest
Can any of the company-specific risk be diversified away by investing in both Bankinvest USA and Maj 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 Bankinvest USA and Maj Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bankinvest USA and Maj Invest Value, you can compare the effects of market volatilities on Bankinvest USA and Maj 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 USA with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bankinvest USA and Maj Invest.
Diversification Opportunities for Bankinvest USA and Maj Invest
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bankinvest and Maj is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bankinvest USA and Maj Invest Value in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Value and Bankinvest USA 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 USA are associated (or correlated) with Maj Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maj Invest Value has no effect on the direction of Bankinvest USA i.e., Bankinvest USA and Maj Invest go up and down completely randomly.
Pair Corralation between Bankinvest USA and Maj Invest
If you would invest 13,560 in Maj Invest Value on August 29, 2024 and sell it today you would earn a total of 6,196 from holding Maj Invest Value or generate 45.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Bankinvest USA vs. Maj Invest Value
Performance |
| Timeline |
| Bankinvest USA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Maj Invest Value |
Bankinvest USA and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bankinvest USA and Maj Invest
The main advantage of trading using opposite Bankinvest USA and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bankinvest USA position performs unexpectedly, Maj 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 Maj Invest will offset losses from the drop in Maj Invest's long position.| Bankinvest USA vs. Investeringsforeningen Bankinvest | Bankinvest USA vs. Sparinvest Lange | Bankinvest USA vs. Investeringsforeningen Danske Invest |
| Maj Invest vs. Maj Invest | Maj Invest vs. Maj Invest | Maj Invest vs. Sparinvest Lange | Maj Invest vs. Investeringsforeningen Danske Invest |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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