Correlation Between Deutsche Bank and Banco Actinver
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By analyzing existing cross correlation between Deutsche Bank Aktiengesellschaft and Banco Actinver SA, you can compare the effects of market volatilities on Deutsche Bank and Banco Actinver 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 Deutsche Bank with a short position of Banco Actinver. Check out your portfolio center. Please also check ongoing floating volatility patterns of Deutsche Bank and Banco Actinver.
Diversification Opportunities for Deutsche Bank and Banco Actinver
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Deutsche and Banco is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Bank Aktiengesellscha and Banco Actinver SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco Actinver SA and Deutsche Bank 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 Deutsche Bank Aktiengesellschaft are associated (or correlated) with Banco Actinver. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco Actinver SA has no effect on the direction of Deutsche Bank i.e., Deutsche Bank and Banco Actinver go up and down completely randomly.
Pair Corralation between Deutsche Bank and Banco Actinver
Assuming the 90 days trading horizon Deutsche Bank Aktiengesellschaft is expected to generate 3.01 times more return on investment than Banco Actinver. However, Deutsche Bank is 3.01 times more volatile than Banco Actinver SA. It trades about 0.06 of its potential returns per unit of risk. Banco Actinver SA is currently generating about 0.0 per unit of risk. If you would invest 21,100 in Deutsche Bank Aktiengesellschaft on September 4, 2024 and sell it today you would earn a total of 13,104 from holding Deutsche Bank Aktiengesellschaft or generate 62.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 64.59% |
| Values | Daily Returns |
Deutsche Bank Aktiengesellscha vs. Banco Actinver SA
Performance |
| Timeline |
| Deutsche Bank Aktien |
| Banco Actinver SA |
Deutsche Bank and Banco Actinver Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Deutsche Bank and Banco Actinver
The main advantage of trading using opposite Deutsche Bank and Banco Actinver positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Deutsche Bank position performs unexpectedly, Banco Actinver 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 Banco Actinver will offset losses from the drop in Banco Actinver's long position.| Deutsche Bank vs. Applied Materials | Deutsche Bank vs. Monster Beverage Corp | Deutsche Bank vs. McEwen Mining | Deutsche Bank vs. Southwest Airlines |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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