Correlation Between Conferize and DKINMAKK
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By analyzing existing cross correlation between Conferize AS and Investeringsforeningen Danske Invest, you can compare the effects of market volatilities on Conferize and DKINMAKK 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 Conferize with a short position of DKINMAKK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Conferize and DKINMAKK.
Diversification Opportunities for Conferize and DKINMAKK
Very good diversification
The 3 months correlation between Conferize and DKINMAKK is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Conferize AS and Investeringsforeningen Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen and Conferize 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 Conferize AS are associated (or correlated) with DKINMAKK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of Conferize i.e., Conferize and DKINMAKK go up and down completely randomly.
Pair Corralation between Conferize and DKINMAKK
Assuming the 90 days trading horizon Conferize AS is expected to under-perform the DKINMAKK. In addition to that, Conferize is 10.72 times more volatile than Investeringsforeningen Danske Invest. It trades about -0.1 of its total potential returns per unit of risk. Investeringsforeningen Danske Invest is currently generating about 0.03 per unit of volatility. If you would invest 36,783 in Investeringsforeningen Danske Invest on September 5, 2024 and sell it today you would earn a total of 138.00 from holding Investeringsforeningen Danske Invest or generate 0.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Conferize AS vs. Investeringsforeningen Danske
Performance |
| Timeline |
| Conferize AS |
| Investeringsforeningen |
Conferize and DKINMAKK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Conferize and DKINMAKK
The main advantage of trading using opposite Conferize and DKINMAKK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Conferize position performs unexpectedly, DKINMAKK 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 DKINMAKK will offset losses from the drop in DKINMAKK's long position.The idea behind Conferize AS and Investeringsforeningen Danske Invest pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| DKINMAKK vs. Novo Nordisk AS | DKINMAKK vs. Nordea Bank Abp | DKINMAKK vs. DSV Panalpina AS | DKINMAKK 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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