Correlation Between Carlsberg and Handelsinvest Danske
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By analyzing existing cross correlation between Carlsberg AS and Handelsinvest Danske Obligationer, you can compare the effects of market volatilities on Carlsberg and Handelsinvest Danske 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 Carlsberg with a short position of Handelsinvest Danske. Check out your portfolio center. Please also check ongoing floating volatility patterns of Carlsberg and Handelsinvest Danske.
Diversification Opportunities for Carlsberg and Handelsinvest Danske
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Carlsberg and Handelsinvest is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding Carlsberg AS and Handelsinvest Danske Obligatio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Handelsinvest Danske and Carlsberg 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 Carlsberg AS are associated (or correlated) with Handelsinvest Danske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Handelsinvest Danske has no effect on the direction of Carlsberg i.e., Carlsberg and Handelsinvest Danske go up and down completely randomly.
Pair Corralation between Carlsberg and Handelsinvest Danske
Assuming the 90 days trading horizon Carlsberg AS is expected to under-perform the Handelsinvest Danske. In addition to that, Carlsberg is 9.17 times more volatile than Handelsinvest Danske Obligationer. It trades about -0.32 of its total potential returns per unit of risk. Handelsinvest Danske Obligationer is currently generating about -0.1 per unit of volatility. If you would invest 9,838 in Handelsinvest Danske Obligationer on October 14, 2024 and sell it today you would lose (21.00) from holding Handelsinvest Danske Obligationer or give up 0.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Carlsberg AS vs. Handelsinvest Danske Obligatio
Performance |
| Timeline |
| Carlsberg AS |
| Handelsinvest Danske |
Carlsberg and Handelsinvest Danske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Carlsberg and Handelsinvest Danske
The main advantage of trading using opposite Carlsberg and Handelsinvest Danske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Carlsberg position performs unexpectedly, Handelsinvest Danske 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 Handelsinvest Danske will offset losses from the drop in Handelsinvest Danske's long position.| Carlsberg vs. Kreditbanken AS | Carlsberg vs. Moens Bank AS | Carlsberg vs. Hvidbjerg Bank | Carlsberg vs. PARKEN Sport Entertainment |
| Handelsinvest Danske vs. Ringkjoebing Landbobank AS | Handelsinvest Danske vs. NTG Nordic Transport | Handelsinvest Danske vs. Groenlandsbanken AS | Handelsinvest Danske vs. Formuepleje Mix Medium |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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