Correlation Between BankInvest Value and Spar Nord
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By analyzing existing cross correlation between BankInvest Value Globale and Spar Nord Bank, you can compare the effects of market volatilities on BankInvest Value and Spar Nord 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 Spar Nord. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Spar Nord.
Diversification Opportunities for BankInvest Value and Spar Nord
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between BankInvest and Spar is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Spar Nord Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Spar Nord Bank 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 Spar Nord. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Spar Nord Bank has no effect on the direction of BankInvest Value i.e., BankInvest Value and Spar Nord go up and down completely randomly.
Pair Corralation between BankInvest Value and Spar Nord
Assuming the 90 days trading horizon BankInvest Value Globale is expected to under-perform the Spar Nord. In addition to that, BankInvest Value is 15.93 times more volatile than Spar Nord Bank. It trades about -0.19 of its total potential returns per unit of risk. Spar Nord Bank is currently generating about 0.1 per unit of volatility. If you would invest 20,750 in Spar Nord Bank on November 28, 2024 and sell it today you would earn a total of 100.00 from holding Spar Nord Bank or generate 0.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInvest Value Globale vs. Spar Nord Bank
Performance |
| Timeline |
| BankInvest Value Globale |
| Spar Nord Bank |
BankInvest Value and Spar Nord Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Spar Nord
The main advantage of trading using opposite BankInvest Value and Spar Nord positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, Spar Nord 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 Spar Nord will offset losses from the drop in Spar Nord's long position.| BankInvest Value vs. Djurslands Bank | BankInvest Value vs. FOM Technologies AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. Nordinvestments AS |
| Spar Nord vs. Sydbank AS | Spar Nord vs. Jyske Bank AS | Spar Nord vs. Alm Brand | Spar Nord vs. Nordea Bank Abp |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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