Correlation Between BankInvest Value and Investin Optimal
Specify exactly 2 symbols:
By analyzing existing cross correlation between BankInvest Value Globale and Investin Optimal Stabil, you can compare the effects of market volatilities on BankInvest Value and Investin Optimal 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 Investin Optimal. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Investin Optimal.
Diversification Opportunities for BankInvest Value and Investin Optimal
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between BankInvest and Investin is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Investin Optimal Stabil in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investin Optimal Stabil 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 Investin Optimal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investin Optimal Stabil has no effect on the direction of BankInvest Value i.e., BankInvest Value and Investin Optimal go up and down completely randomly.
Pair Corralation between BankInvest Value and Investin Optimal
Assuming the 90 days trading horizon BankInvest Value Globale is expected to generate 3.75 times more return on investment than Investin Optimal. However, BankInvest Value is 3.75 times more volatile than Investin Optimal Stabil. It trades about 0.06 of its potential returns per unit of risk. Investin Optimal Stabil is currently generating about 0.16 per unit of risk. If you would invest 9,968 in BankInvest Value Globale on September 19, 2024 and sell it today you would earn a total of 537.00 from holding BankInvest Value Globale or generate 5.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 82.95% |
| Values | Daily Returns |
BankInvest Value Globale vs. Investin Optimal Stabil
Performance |
| Timeline |
| BankInvest Value Globale |
| Investin Optimal Stabil |
BankInvest Value and Investin Optimal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Investin Optimal
The main advantage of trading using opposite BankInvest Value and Investin Optimal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, Investin Optimal 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 Investin Optimal will offset losses from the drop in Investin Optimal'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 |
| Investin Optimal vs. Danske Andelskassers Bank | Investin Optimal vs. Jyske Bank AS | Investin Optimal vs. Nordinvestments AS | Investin Optimal vs. BankInvest Value Globale |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |