Correlation Between BankInvest Optima and BankInvest Value
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By analyzing existing cross correlation between BankInvest Optima 30 and BankInvest Value Globale, you can compare the effects of market volatilities on BankInvest Optima and BankInvest Value 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 Optima with a short position of BankInvest Value. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Optima and BankInvest Value.
Diversification Opportunities for BankInvest Optima and BankInvest Value
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between BankInvest and BankInvest is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Optima 30 and BankInvest Value Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Value Globale and BankInvest Optima 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 Optima 30 are associated (or correlated) with BankInvest Value. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Value Globale has no effect on the direction of BankInvest Optima i.e., BankInvest Optima and BankInvest Value go up and down completely randomly.
Pair Corralation between BankInvest Optima and BankInvest Value
Assuming the 90 days trading horizon BankInvest Optima is expected to generate 1.74 times less return on investment than BankInvest Value. But when comparing it to its historical volatility, BankInvest Optima 30 is 2.25 times less risky than BankInvest Value. It trades about 0.11 of its potential returns per unit of risk. BankInvest Value Globale is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 9,904 in BankInvest Value Globale on September 3, 2024 and sell it today you would earn a total of 846.00 from holding BankInvest Value Globale or generate 8.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 84.38% |
| Values | Daily Returns |
BankInvest Optima 30 vs. BankInvest Value Globale
Performance |
| Timeline |
| BankInvest Optima |
| BankInvest Value Globale |
BankInvest Optima and BankInvest Value Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Optima and BankInvest Value
The main advantage of trading using opposite BankInvest Optima and BankInvest Value positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Optima position performs unexpectedly, BankInvest Value 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 BankInvest Value will offset losses from the drop in BankInvest Value's long position.| BankInvest Optima vs. BankInvest Value Globale | BankInvest Optima vs. Groenlandsbanken AS | BankInvest Optima vs. TROPHY GAMES Development | BankInvest Optima vs. Prime Office AS |
| BankInvest Value vs. Novo Nordisk AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. DSV Panalpina AS | BankInvest Value vs. AP Mller |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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