Correlation Between BankInvest Value and Sydbank AS
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By analyzing existing cross correlation between BankInvest Value Globale and Sydbank AS, you can compare the effects of market volatilities on BankInvest Value and Sydbank AS 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 Sydbank AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Sydbank AS.
Diversification Opportunities for BankInvest Value and Sydbank AS
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BankInvest and Sydbank is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Sydbank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sydbank 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 Sydbank AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sydbank AS has no effect on the direction of BankInvest Value i.e., BankInvest Value and Sydbank AS go up and down completely randomly.
Pair Corralation between BankInvest Value and Sydbank AS
Assuming the 90 days trading horizon BankInvest Value is expected to generate 1.12 times less return on investment than Sydbank AS. But when comparing it to its historical volatility, BankInvest Value Globale is 1.95 times less risky than Sydbank AS. It trades about 0.27 of its potential returns per unit of risk. Sydbank AS is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 32,900 in Sydbank AS on August 29, 2024 and sell it today you would earn a total of 1,920 from holding Sydbank AS or generate 5.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
BankInvest Value Globale vs. Sydbank AS
Performance |
| Timeline |
| BankInvest Value Globale |
| Sydbank AS |
BankInvest Value and Sydbank AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Sydbank AS
The main advantage of trading using opposite BankInvest Value and Sydbank AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, Sydbank AS 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 Sydbank AS will offset losses from the drop in Sydbank AS's long position.| BankInvest Value vs. Sydbank AS | BankInvest Value vs. Jyske Bank AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. Embla Medical hf |
| Sydbank AS vs. Jyske Bank AS | Sydbank AS vs. Tryg AS | Sydbank AS vs. FLSmidth Co | Sydbank AS 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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