Correlation Between BankInvest Value and Dataproces Group
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By analyzing existing cross correlation between BankInvest Value Globale and Dataproces Group AS, you can compare the effects of market volatilities on BankInvest Value and Dataproces Group 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 Value with a short position of Dataproces Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Dataproces Group.
Diversification Opportunities for BankInvest Value and Dataproces Group
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BankInvest and Dataproces is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Dataproces Group AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dataproces Group and BankInvest Value 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 Value Globale are associated (or correlated) with Dataproces Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dataproces Group has no effect on the direction of BankInvest Value i.e., BankInvest Value and Dataproces Group go up and down completely randomly.
Pair Corralation between BankInvest Value and Dataproces Group
Assuming the 90 days trading horizon BankInvest Value Globale is expected to generate 0.28 times more return on investment than Dataproces Group. However, BankInvest Value Globale is 3.54 times less risky than Dataproces Group. It trades about 0.3 of its potential returns per unit of risk. Dataproces Group AS is currently generating about -0.11 per unit of risk. If you would invest 10,215 in BankInvest Value Globale on September 2, 2024 and sell it today you would earn a total of 535.00 from holding BankInvest Value Globale or generate 5.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 90.91% |
| Values | Daily Returns |
BankInvest Value Globale vs. Dataproces Group AS
Performance |
| Timeline |
| BankInvest Value Globale |
| Dataproces Group |
BankInvest Value and Dataproces Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Dataproces Group
The main advantage of trading using opposite BankInvest Value and Dataproces Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, Dataproces Group 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 Dataproces Group will offset losses from the drop in Dataproces Group's long position.| BankInvest Value vs. Fynske Bank AS | BankInvest Value vs. BankIn Bredygt Klimaakt | BankInvest Value vs. Scandinavian Medical Solutions | BankInvest Value vs. Jyske Bank AS |
| Dataproces Group vs. Penneo AS | Dataproces Group vs. Bactiquant AS | Dataproces Group vs. cBrain AS | Dataproces Group vs. FOM Technologies 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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