Correlation Between Copenhagen Capital and Strategic Investments
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By analyzing existing cross correlation between Copenhagen Capital AS and Strategic Investments AS, you can compare the effects of market volatilities on Copenhagen Capital and Strategic Investments 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 Strategic Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Copenhagen Capital and Strategic Investments.
Diversification Opportunities for Copenhagen Capital and Strategic Investments
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Copenhagen and Strategic is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Copenhagen Capital AS and Strategic Investments AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Strategic Investments 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 Strategic Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Strategic Investments has no effect on the direction of Copenhagen Capital i.e., Copenhagen Capital and Strategic Investments go up and down completely randomly.
Pair Corralation between Copenhagen Capital and Strategic Investments
Assuming the 90 days trading horizon Copenhagen Capital AS is expected to generate 0.7 times more return on investment than Strategic Investments. However, Copenhagen Capital AS is 1.42 times less risky than Strategic Investments. It trades about 0.07 of its potential returns per unit of risk. Strategic Investments AS is currently generating about -0.08 per unit of risk. If you would invest 505.00 in Copenhagen Capital AS on August 31, 2024 and sell it today you would earn a total of 10.00 from holding Copenhagen Capital AS or generate 1.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Copenhagen Capital AS vs. Strategic Investments AS
Performance |
| Timeline |
| Copenhagen Capital |
| Strategic Investments |
Copenhagen Capital and Strategic Investments Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Copenhagen Capital and Strategic Investments
The main advantage of trading using opposite Copenhagen Capital and Strategic Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Copenhagen Capital position performs unexpectedly, Strategic Investments 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 Strategic Investments will offset losses from the drop in Strategic Investments' long position.| Copenhagen Capital vs. SKAKO AS | Copenhagen Capital vs. Agat Ejendomme AS | Copenhagen Capital vs. Prime Office AS | Copenhagen Capital vs. Cemat AS |
| Strategic Investments vs. Newcap Holding AS | Strategic Investments vs. SKAKO AS | Strategic Investments vs. Rovsing 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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