Correlation Between BankInvest Value and Prime Office
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By analyzing existing cross correlation between BankInvest Value Globale and Prime Office AS, you can compare the effects of market volatilities on BankInvest Value and Prime Office 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 Prime Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Prime Office.
Diversification Opportunities for BankInvest Value and Prime Office
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BankInvest and Prime is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Prime Office AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Prime Office AS 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 Prime Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Prime Office AS has no effect on the direction of BankInvest Value i.e., BankInvest Value and Prime Office go up and down completely randomly.
Pair Corralation between BankInvest Value and Prime Office
Assuming the 90 days trading horizon BankInvest Value Globale is expected to generate 0.47 times more return on investment than Prime Office. However, BankInvest Value Globale is 2.13 times less risky than Prime Office. It trades about 0.01 of its potential returns per unit of risk. Prime Office AS is currently generating about -0.01 per unit of risk. If you would invest 10,470 in BankInvest Value Globale on September 12, 2024 and sell it today you would earn a total of 210.00 from holding BankInvest Value Globale or generate 2.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 80.0% |
| Values | Daily Returns |
BankInvest Value Globale vs. Prime Office AS
Performance |
| Timeline |
| BankInvest Value Globale |
| Prime Office AS |
BankInvest Value and Prime Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Prime Office
The main advantage of trading using opposite BankInvest Value and Prime Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, Prime Office 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 Prime Office will offset losses from the drop in Prime Office'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 |
| Prime Office vs. Djurslands Bank | Prime Office vs. North Media AS | Prime Office vs. First Farms AS | Prime Office vs. Gabriel Holding |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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