Correlation Between BankInvest Virksomhedsoblig and Jyske Invest
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By analyzing existing cross correlation between BankInvest Virksomhedsobligationer and Jyske Invest Nye, you can compare the effects of market volatilities on BankInvest Virksomhedsoblig and Jyske Invest 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 Virksomhedsoblig with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Virksomhedsoblig and Jyske Invest.
Diversification Opportunities for BankInvest Virksomhedsoblig and Jyske Invest
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BankInvest and Jyske is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Virksomhedsobliga and Jyske Invest Nye in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Nye and BankInvest Virksomhedsoblig 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 Virksomhedsobligationer are associated (or correlated) with Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Nye has no effect on the direction of BankInvest Virksomhedsoblig i.e., BankInvest Virksomhedsoblig and Jyske Invest go up and down completely randomly.
Pair Corralation between BankInvest Virksomhedsoblig and Jyske Invest
Assuming the 90 days trading horizon BankInvest Virksomhedsobligationer is expected to under-perform the Jyske Invest. But the fund apears to be less risky and, when comparing its historical volatility, BankInvest Virksomhedsobligationer is 1.1 times less risky than Jyske Invest. The fund trades about -0.29 of its potential returns per unit of risk. The Jyske Invest Nye is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 9,844 in Jyske Invest Nye on October 25, 2024 and sell it today you would earn a total of 64.00 from holding Jyske Invest Nye or generate 0.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 76.47% |
| Values | Daily Returns |
BankInvest Virksomhedsobliga vs. Jyske Invest Nye
Performance |
| Timeline |
| BankInvest Virksomhedsoblig |
| Jyske Invest Nye |
BankInvest Virksomhedsoblig and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Virksomhedsoblig and Jyske Invest
The main advantage of trading using opposite BankInvest Virksomhedsoblig and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Virksomhedsoblig position performs unexpectedly, Jyske Invest 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 Jyske Invest will offset losses from the drop in Jyske Invest's long position.The idea behind BankInvest Virksomhedsobligationer and Jyske Invest Nye pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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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