Correlation Between BankInvest Value and OMX Copenhagen
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By analyzing existing cross correlation between BankInvest Value Globale and OMX Copenhagen All, you can compare the effects of market volatilities on BankInvest Value and OMX Copenhagen 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 OMX Copenhagen. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and OMX Copenhagen.
Diversification Opportunities for BankInvest Value and OMX Copenhagen
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BankInvest and OMX is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and OMX Copenhagen All in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OMX Copenhagen All 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 OMX Copenhagen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMX Copenhagen All has no effect on the direction of BankInvest Value i.e., BankInvest Value and OMX Copenhagen go up and down completely randomly.
Pair Corralation between BankInvest Value and OMX Copenhagen
Assuming the 90 days trading horizon BankInvest Value is expected to generate 6.84 times less return on investment than OMX Copenhagen. But when comparing it to its historical volatility, BankInvest Value Globale is 1.03 times less risky than OMX Copenhagen. It trades about 0.01 of its potential returns per unit of risk. OMX Copenhagen All is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 140,023 in OMX Copenhagen All on September 19, 2024 and sell it today you would earn a total of 32,138 from holding OMX Copenhagen All or generate 22.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 80.65% |
| Values | Daily Returns |
BankInvest Value Globale vs. OMX Copenhagen All
Performance |
| Timeline |
BankInvest Value and OMX Copenhagen Volatility Contrast
Predicted Return Density |
| Returns |
BankInvest Value Globale
Pair trading matchups for BankInvest Value
OMX Copenhagen All
Pair trading matchups for OMX Copenhagen
Pair Trading with BankInvest Value and OMX Copenhagen
The main advantage of trading using opposite BankInvest Value and OMX Copenhagen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, OMX Copenhagen 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 OMX Copenhagen will offset losses from the drop in OMX Copenhagen'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 |
| OMX Copenhagen vs. BankInvest Value Globale | OMX Copenhagen vs. Hvidbjerg Bank | OMX Copenhagen vs. Scandinavian Medical Solutions | OMX Copenhagen vs. Groenlandsbanken 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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