Correlation Between Carlsberg and Nordea Invest
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By analyzing existing cross correlation between Carlsberg AS and Nordea Invest Stabil, you can compare the effects of market volatilities on Carlsberg and Nordea 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 Carlsberg with a short position of Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Carlsberg and Nordea Invest.
Diversification Opportunities for Carlsberg and Nordea Invest
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Carlsberg and Nordea is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Carlsberg AS and Nordea Invest Stabil in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Stabil 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 Nordea Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Invest Stabil has no effect on the direction of Carlsberg i.e., Carlsberg and Nordea Invest go up and down completely randomly.
Pair Corralation between Carlsberg and Nordea Invest
If you would invest (100.00) in Nordea Invest Stabil on September 19, 2024 and sell it today you would earn a total of 100.00 from holding Nordea Invest Stabil or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
Carlsberg AS vs. Nordea Invest Stabil
Performance |
| Timeline |
| Carlsberg AS |
| Nordea Invest Stabil |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Carlsberg and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Carlsberg and Nordea Invest
The main advantage of trading using opposite Carlsberg and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Carlsberg position performs unexpectedly, Nordea 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 Nordea Invest will offset losses from the drop in Nordea Invest's long position.| Carlsberg vs. Dataproces Group AS | Carlsberg vs. Fynske Bank AS | Carlsberg vs. Danske Andelskassers Bank | Carlsberg vs. PARKEN Sport Entertainment |
| Nordea Invest vs. North Media AS | Nordea Invest vs. Sydbank AS | Nordea Invest vs. Groenlandsbanken AS | Nordea Invest vs. Danske Andelskassers Bank |
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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