Correlation Between Dow Jones and Jyske Invest
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By analyzing existing cross correlation between Dow Jones Industrial and Jyske Invest Nye, you can compare the effects of market volatilities on Dow Jones and Jyske Invest 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 Dow Jones with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dow Jones and Jyske Invest.
Diversification Opportunities for Dow Jones and Jyske Invest
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Dow and Jyske is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Dow Jones Industrial and Jyske Invest Nye in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Nye and Dow Jones 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 Dow Jones Industrial are associated (or correlated) with Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Nye has no effect on the direction of Dow Jones i.e., Dow Jones and Jyske Invest go up and down completely randomly.
Pair Corralation between Dow Jones and Jyske Invest
Assuming the 90 days trading horizon Dow Jones Industrial is expected to generate 0.68 times more return on investment than Jyske Invest. However, Dow Jones Industrial is 1.48 times less risky than Jyske Invest. It trades about 0.16 of its potential returns per unit of risk. Jyske Invest Nye is currently generating about 0.05 per unit of risk. If you would invest 3,857,103 in Dow Jones Industrial on September 1, 2024 and sell it today you would earn a total of 633,962 from holding Dow Jones Industrial or generate 16.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 96.92% |
| Values | Daily Returns |
Dow Jones Industrial vs. Jyske Invest Nye
Performance |
| Timeline |
Dow Jones and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Dow Jones Industrial
Pair trading matchups for Dow Jones
Jyske Invest Nye
Pair trading matchups for Jyske Invest
Pair Trading with Dow Jones and Jyske Invest
The main advantage of trading using opposite Dow Jones and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dow Jones position performs unexpectedly, Jyske Invest 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 Jyske Invest will offset losses from the drop in Jyske Invest's long position.| Dow Jones vs. Catalyst Pharmaceuticals | Dow Jones vs. Sphere Entertainment Co | Dow Jones vs. National CineMedia | Dow Jones vs. Mink Therapeutics |
| Jyske Invest vs. Novo Nordisk AS | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. DSV Panalpina AS | Jyske Invest 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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