Correlation Between BankInvest Value and Sydinvest Fjernsten
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By analyzing existing cross correlation between BankInvest Value Globale and Sydinvest Fjernsten Akkumulerende, you can compare the effects of market volatilities on BankInvest Value and Sydinvest Fjernsten 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 Sydinvest Fjernsten. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and Sydinvest Fjernsten.
Diversification Opportunities for BankInvest Value and Sydinvest Fjernsten
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between BankInvest and Sydinvest is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and Sydinvest Fjernsten Akkumulere in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sydinvest Fjernsten 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 Sydinvest Fjernsten. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sydinvest Fjernsten has no effect on the direction of BankInvest Value i.e., BankInvest Value and Sydinvest Fjernsten go up and down completely randomly.
Pair Corralation between BankInvest Value and Sydinvest Fjernsten
Assuming the 90 days trading horizon BankInvest Value Globale is expected to under-perform the Sydinvest Fjernsten. But the stock apears to be less risky and, when comparing its historical volatility, BankInvest Value Globale is 1.17 times less risky than Sydinvest Fjernsten. The stock trades about -0.02 of its potential returns per unit of risk. The Sydinvest Fjernsten Akkumulerende is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 33,606 in Sydinvest Fjernsten Akkumulerende on September 12, 2024 and sell it today you would earn a total of 154.00 from holding Sydinvest Fjernsten Akkumulerende or generate 0.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
BankInvest Value Globale vs. Sydinvest Fjernsten Akkumulere
Performance |
| Timeline |
| BankInvest Value Globale |
| Sydinvest Fjernsten |
BankInvest Value and Sydinvest Fjernsten Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Value and Sydinvest Fjernsten
The main advantage of trading using opposite BankInvest Value and Sydinvest Fjernsten positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, Sydinvest Fjernsten 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 Sydinvest Fjernsten will offset losses from the drop in Sydinvest Fjernsten'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 |
| Sydinvest Fjernsten vs. BankInvest Value Globale | Sydinvest Fjernsten vs. TROPHY GAMES Development | Sydinvest Fjernsten vs. BankIn Bredygt Klimaakt | Sydinvest Fjernsten vs. Cessatech 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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