Correlation Between Copenhagen Capital and EgnsINVEST Ejendomme
Specify exactly 2 symbols:
By analyzing existing cross correlation between Copenhagen Capital AS and EgnsINVEST Ejendomme Tyskland, you can compare the effects of market volatilities on Copenhagen Capital and EgnsINVEST Ejendomme 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 Copenhagen Capital with a short position of EgnsINVEST Ejendomme. Check out your portfolio center. Please also check ongoing floating volatility patterns of Copenhagen Capital and EgnsINVEST Ejendomme.
Diversification Opportunities for Copenhagen Capital and EgnsINVEST Ejendomme
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Copenhagen and EgnsINVEST is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Copenhagen Capital AS and EgnsINVEST Ejendomme Tyskland in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EgnsINVEST Ejendomme and Copenhagen Capital 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 Copenhagen Capital AS are associated (or correlated) with EgnsINVEST Ejendomme. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EgnsINVEST Ejendomme has no effect on the direction of Copenhagen Capital i.e., Copenhagen Capital and EgnsINVEST Ejendomme go up and down completely randomly.
Pair Corralation between Copenhagen Capital and EgnsINVEST Ejendomme
Assuming the 90 days trading horizon Copenhagen Capital AS is expected to generate 1.59 times more return on investment than EgnsINVEST Ejendomme. However, Copenhagen Capital is 1.59 times more volatile than EgnsINVEST Ejendomme Tyskland. It trades about -0.01 of its potential returns per unit of risk. EgnsINVEST Ejendomme Tyskland is currently generating about -0.05 per unit of risk. If you would invest 705.00 in Copenhagen Capital AS on November 2, 2024 and sell it today you would lose (185.00) from holding Copenhagen Capital AS or give up 26.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Copenhagen Capital AS vs. EgnsINVEST Ejendomme Tyskland
Performance |
| Timeline |
| Copenhagen Capital |
| EgnsINVEST Ejendomme |
Copenhagen Capital and EgnsINVEST Ejendomme Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Copenhagen Capital and EgnsINVEST Ejendomme
The main advantage of trading using opposite Copenhagen Capital and EgnsINVEST Ejendomme positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Copenhagen Capital position performs unexpectedly, EgnsINVEST Ejendomme 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 EgnsINVEST Ejendomme will offset losses from the drop in EgnsINVEST Ejendomme's long position.| Copenhagen Capital vs. SKAKO AS | Copenhagen Capital vs. Agat Ejendomme AS | Copenhagen Capital vs. Prime Office AS | Copenhagen Capital vs. Cemat AS |
| EgnsINVEST Ejendomme vs. Danske Andelskassers Bank | EgnsINVEST Ejendomme vs. Formuepleje Mix Medium | EgnsINVEST Ejendomme vs. Moens Bank AS | EgnsINVEST Ejendomme vs. Fynske Bank AS |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |