Correlation Between BankInvest Value and Jyske Invest
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By analyzing existing cross correlation between BankInvest Value Globale and Jyske Invest Korte, you can compare the effects of market volatilities on BankInvest Value 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 Value with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Jyske Invest.
Diversification Opportunities for BankInvest Value and Jyske Invest
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between BankInvest and Jyske is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Jyske Invest Korte in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Korte 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 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 Korte has no effect on the direction of BankInvest Value i.e., BankInvest Value and Jyske Invest go up and down completely randomly.
Pair Corralation between BankInvest Value and Jyske Invest
Assuming the 90 days trading horizon BankInvest Value is expected to generate 1.22 times less return on investment than Jyske Invest. In addition to that, BankInvest Value is 12.3 times more volatile than Jyske Invest Korte. It trades about 0.01 of its total potential returns per unit of risk. Jyske Invest Korte is currently generating about 0.18 per unit of volatility. If you would invest 8,924 in Jyske Invest Korte on September 3, 2024 and sell it today you would earn a total of 694.00 from holding Jyske Invest Korte or generate 7.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 81.93% |
| Values | Daily Returns |
BankInvest Value Globale vs. Jyske Invest Korte
Performance |
| Timeline |
| BankInvest Value Globale |
| Jyske Invest Korte |
BankInvest Value and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Jyske Invest
The main advantage of trading using opposite BankInvest Value and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value 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 Value vs. Novo Nordisk AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. DSV Panalpina AS | BankInvest Value vs. AP Mller |
| Jyske Invest vs. Novo Nordisk AS | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. DSV Panalpina AS | Jyske Invest 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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