Correlation Between Dataproces Group and BankInvest Value
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By analyzing existing cross correlation between Dataproces Group AS and BankInvest Value Globale, you can compare the effects of market volatilities on Dataproces Group and BankInvest Value 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 Dataproces Group with a short position of BankInvest Value. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dataproces Group and BankInvest Value.
Diversification Opportunities for Dataproces Group and BankInvest Value
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dataproces and BankInvest is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Dataproces Group AS and BankInvest Value Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Value Globale and Dataproces Group 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 Dataproces Group AS are associated (or correlated) with BankInvest Value. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Value Globale has no effect on the direction of Dataproces Group i.e., Dataproces Group and BankInvest Value go up and down completely randomly.
Pair Corralation between Dataproces Group and BankInvest Value
Assuming the 90 days trading horizon Dataproces Group AS is expected to under-perform the BankInvest Value. In addition to that, Dataproces Group is 3.54 times more volatile than BankInvest Value Globale. It trades about -0.11 of its total potential returns per unit of risk. BankInvest Value Globale is currently generating about 0.3 per unit of volatility. If you would invest 10,215 in BankInvest Value Globale on September 2, 2024 and sell it today you would earn a total of 535.00 from holding BankInvest Value Globale or generate 5.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 90.91% |
| Values | Daily Returns |
Dataproces Group AS vs. BankInvest Value Globale
Performance |
| Timeline |
| Dataproces Group |
| BankInvest Value Globale |
Dataproces Group and BankInvest Value Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dataproces Group and BankInvest Value
The main advantage of trading using opposite Dataproces Group and BankInvest Value positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dataproces Group position performs unexpectedly, BankInvest Value 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 BankInvest Value will offset losses from the drop in BankInvest Value's long position.| Dataproces Group vs. Penneo AS | Dataproces Group vs. Bactiquant AS | Dataproces Group vs. cBrain AS | Dataproces Group vs. FOM Technologies AS |
| BankInvest Value vs. Fynske Bank AS | BankInvest Value vs. BankIn Bredygt Klimaakt | BankInvest Value vs. Scandinavian Medical Solutions | BankInvest Value vs. Jyske 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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