Correlation Between Djurslands Bank and Maj Invest
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By analyzing existing cross correlation between Djurslands Bank and Maj Invest Glob, you can compare the effects of market volatilities on Djurslands Bank and Maj 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 Djurslands Bank with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Djurslands Bank and Maj Invest.
Diversification Opportunities for Djurslands Bank and Maj Invest
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Djurslands and Maj is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Djurslands Bank and Maj Invest Glob in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Glob and Djurslands 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 Djurslands Bank are associated (or correlated) with Maj Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maj Invest Glob has no effect on the direction of Djurslands Bank i.e., Djurslands Bank and Maj Invest go up and down completely randomly.
Pair Corralation between Djurslands Bank and Maj Invest
Assuming the 90 days trading horizon Djurslands Bank is expected to generate 0.64 times more return on investment than Maj Invest. However, Djurslands Bank is 1.57 times less risky than Maj Invest. It trades about 0.1 of its potential returns per unit of risk. Maj Invest Glob is currently generating about -0.17 per unit of risk. If you would invest 37,600 in Djurslands Bank on December 8, 2024 and sell it today you would earn a total of 27,400 from holding Djurslands Bank or generate 72.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 8.94% |
| Values | Daily Returns |
Djurslands Bank vs. Maj Invest Glob
Performance |
| Timeline |
| Djurslands Bank |
| Maj Invest Glob |
Djurslands Bank and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Djurslands Bank and Maj Invest
The main advantage of trading using opposite Djurslands Bank and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Djurslands Bank position performs unexpectedly, Maj 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 Maj Invest will offset losses from the drop in Maj Invest's long position.| Djurslands Bank vs. Skjern Bank AS | ||
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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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