Correlation Between BankInvest Value and Maj Invest
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By analyzing existing cross correlation between BankInvest Value Globale and Maj Invest Glob, you can compare the effects of market volatilities on BankInvest Value 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 Value with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Maj Invest.
Diversification Opportunities for BankInvest Value and Maj Invest
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BankInvest and Maj is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Maj Invest Glob in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Glob 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 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 Glob has no effect on the direction of BankInvest Value i.e., BankInvest Value and Maj Invest go up and down completely randomly.
Pair Corralation between BankInvest Value and Maj Invest
Assuming the 90 days trading horizon BankInvest Value Globale is expected to under-perform the Maj Invest. In addition to that, BankInvest Value is 1.3 times more volatile than Maj Invest Glob. It trades about -0.17 of its total potential returns per unit of risk. Maj Invest Glob is currently generating about -0.17 per unit of volatility. If you would invest 13,920 in Maj Invest Glob on December 8, 2024 and sell it today you would lose (2,015) from holding Maj Invest Glob or give up 14.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
BankInvest Value Globale vs. Maj Invest Glob
Performance |
| Timeline |
| BankInvest Value Globale |
| Maj Invest Glob |
BankInvest Value and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Maj Invest
The main advantage of trading using opposite BankInvest Value and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value 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 Value vs. Cessatech AS | ||
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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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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