Correlation Between BankInvest Value and Formuepleje Mix
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By analyzing existing cross correlation between BankInvest Value Globale and Formuepleje Mix Medium, you can compare the effects of market volatilities on BankInvest Value and Formuepleje Mix 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 Formuepleje Mix. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Formuepleje Mix.
Diversification Opportunities for BankInvest Value and Formuepleje Mix
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between BankInvest and Formuepleje is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Formuepleje Mix Medium in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Formuepleje Mix Medium 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 Formuepleje Mix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Formuepleje Mix Medium has no effect on the direction of BankInvest Value i.e., BankInvest Value and Formuepleje Mix go up and down completely randomly.
Pair Corralation between BankInvest Value and Formuepleje Mix
Assuming the 90 days trading horizon BankInvest Value is expected to generate 4.79 times less return on investment than Formuepleje Mix. In addition to that, BankInvest Value is 2.07 times more volatile than Formuepleje Mix Medium. It trades about 0.01 of its total potential returns per unit of risk. Formuepleje Mix Medium is currently generating about 0.1 per unit of volatility. If you would invest 24,110 in Formuepleje Mix Medium on September 12, 2024 and sell it today you would earn a total of 5,930 from holding Formuepleje Mix Medium or generate 24.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 94.29% |
| Values | Daily Returns |
BankInvest Value Globale vs. Formuepleje Mix Medium
Performance |
| Timeline |
| BankInvest Value Globale |
| Formuepleje Mix Medium |
BankInvest Value and Formuepleje Mix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Formuepleje Mix
The main advantage of trading using opposite BankInvest Value and Formuepleje Mix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, Formuepleje Mix 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 Formuepleje Mix will offset losses from the drop in Formuepleje Mix's long position.| BankInvest Value vs. Novo Nordisk AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. DSV Panalpina AS | BankInvest Value vs. AP Mller |
| Formuepleje Mix vs. Novo Nordisk AS | Formuepleje Mix vs. Nordea Bank Abp | Formuepleje Mix vs. DSV Panalpina AS | Formuepleje Mix vs. AP Mller |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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