Correlation Between Danske Invest and CBrain AS
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By analyzing existing cross correlation between Danske Invest Euro and cBrain AS, you can compare the effects of market volatilities on Danske Invest and CBrain AS 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 Danske Invest with a short position of CBrain AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Danske Invest and CBrain AS.
Diversification Opportunities for Danske Invest and CBrain AS
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Danske and CBrain is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Danske Invest Euro and cBrain AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on cBrain AS and Danske Invest 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 Danske Invest Euro are associated (or correlated) with CBrain AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of cBrain AS has no effect on the direction of Danske Invest i.e., Danske Invest and CBrain AS go up and down completely randomly.
Pair Corralation between Danske Invest and CBrain AS
Assuming the 90 days trading horizon Danske Invest Euro is expected to generate 0.05 times more return on investment than CBrain AS. However, Danske Invest Euro is 18.63 times less risky than CBrain AS. It trades about 0.38 of its potential returns per unit of risk. cBrain AS is currently generating about 0.0 per unit of risk. If you would invest 9,934 in Danske Invest Euro on September 13, 2024 and sell it today you would earn a total of 111.00 from holding Danske Invest Euro or generate 1.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Danske Invest Euro vs. cBrain AS
Performance |
| Timeline |
| Danske Invest Euro |
| cBrain AS |
Danske Invest and CBrain AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Danske Invest and CBrain AS
The main advantage of trading using opposite Danske Invest and CBrain AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Danske Invest position performs unexpectedly, CBrain AS 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 CBrain AS will offset losses from the drop in CBrain AS's long position.| Danske Invest vs. Novo Nordisk AS | Danske Invest vs. Nordea Bank Abp | Danske Invest vs. DSV Panalpina AS | Danske Invest vs. AP Mller |
| CBrain AS vs. ChemoMetec AS | CBrain AS vs. Ambu AS | CBrain AS vs. Genmab AS | CBrain AS vs. Zealand Pharma 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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