Correlation Between Broendbyernes and AP Mller
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By analyzing existing cross correlation between Broendbyernes IF Fodbold and AP Mller , you can compare the effects of market volatilities on Broendbyernes and AP Mller 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 Broendbyernes with a short position of AP Mller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Broendbyernes and AP Mller.
Diversification Opportunities for Broendbyernes and AP Mller
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Broendbyernes and MAERSK-A is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Broendbyernes IF Fodbold and AP Mller in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AP Mller and Broendbyernes 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 Broendbyernes IF Fodbold are associated (or correlated) with AP Mller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AP Mller has no effect on the direction of Broendbyernes i.e., Broendbyernes and AP Mller go up and down completely randomly.
Pair Corralation between Broendbyernes and AP Mller
Assuming the 90 days trading horizon Broendbyernes is expected to generate 18.93 times less return on investment than AP Mller. But when comparing it to its historical volatility, Broendbyernes IF Fodbold is 1.38 times less risky than AP Mller. It trades about 0.01 of its potential returns per unit of risk. AP Mller is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 1,083,000 in AP Mller on September 2, 2024 and sell it today you would earn a total of 74,000 from holding AP Mller or generate 6.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Broendbyernes IF Fodbold vs. AP Mller
Performance |
| Timeline |
| Broendbyernes IF Fodbold |
| AP Mller |
Broendbyernes and AP Mller Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Broendbyernes and AP Mller
The main advantage of trading using opposite Broendbyernes and AP Mller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Broendbyernes position performs unexpectedly, AP Mller 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 AP Mller will offset losses from the drop in AP Mller's long position.| Broendbyernes vs. PARKEN Sport Entertainment | Broendbyernes vs. Bang Olufsen | Broendbyernes vs. BioPorto | Broendbyernes vs. cBrain AS |
| AP Mller vs. Danske Bank AS | AP Mller vs. DSV Panalpina AS | AP Mller vs. Vestas Wind Systems | AP Mller vs. Bavarian Nordic |
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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