Correlation Between Bavarian Nordic and Maj Invest
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By analyzing existing cross correlation between Bavarian Nordic and Maj Invest Glob, you can compare the effects of market volatilities on Bavarian Nordic and Maj 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 Bavarian Nordic with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bavarian Nordic and Maj Invest.
Diversification Opportunities for Bavarian Nordic and Maj Invest
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bavarian and Maj is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Bavarian Nordic and Maj Invest Glob in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Glob and Bavarian Nordic 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 Bavarian Nordic are associated (or correlated) with Maj Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maj Invest Glob has no effect on the direction of Bavarian Nordic i.e., Bavarian Nordic and Maj Invest go up and down completely randomly.
Pair Corralation between Bavarian Nordic and Maj Invest
Assuming the 90 days trading horizon Bavarian Nordic is expected to generate 13.54 times less return on investment than Maj Invest. In addition to that, Bavarian Nordic is 7.05 times more volatile than Maj Invest Glob. It trades about 0.0 of its total potential returns per unit of risk. Maj Invest Glob is currently generating about 0.03 per unit of volatility. If you would invest 14,090 in Maj Invest Glob on September 13, 2024 and sell it today you would earn a total of 50.00 from holding Maj Invest Glob or generate 0.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Bavarian Nordic vs. Maj Invest Glob
Performance |
| Timeline |
| Bavarian Nordic |
| Maj Invest Glob |
Bavarian Nordic and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bavarian Nordic and Maj Invest
The main advantage of trading using opposite Bavarian Nordic and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bavarian Nordic position performs unexpectedly, Maj 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 Maj Invest will offset losses from the drop in Maj Invest's long position.| Bavarian Nordic vs. Dataproces Group AS | Bavarian Nordic vs. cBrain AS | Bavarian Nordic vs. Nilfisk Holding AS | Bavarian Nordic vs. Danish Aerospace |
| Maj Invest vs. Groenlandsbanken AS | Maj Invest vs. North Media AS | Maj Invest vs. Nordfyns Bank AS | Maj Invest vs. Embla Medical hf |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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