Correlation Between DKIEUHUAKLDKK and Jyske Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Investeringsforeningen Danske Invest and Jyske Invest Nye, you can compare the effects of market volatilities on DKIEUHUAKLDKK 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 DKIEUHUAKLDKK with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKIEUHUAKLDKK and Jyske Invest.
Diversification Opportunities for DKIEUHUAKLDKK and Jyske Invest
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between DKIEUHUAKLDKK and Jyske is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske 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 DKIEUHUAKLDKK 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 Investeringsforeningen Danske Invest 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 DKIEUHUAKLDKK i.e., DKIEUHUAKLDKK and Jyske Invest go up and down completely randomly.
Pair Corralation between DKIEUHUAKLDKK and Jyske Invest
Assuming the 90 days trading horizon Investeringsforeningen Danske Invest is expected to under-perform the Jyske Invest. In addition to that, DKIEUHUAKLDKK is 1.85 times more volatile than Jyske Invest Nye. It trades about -0.18 of its total potential returns per unit of risk. Jyske Invest Nye is currently generating about 0.11 per unit of volatility. If you would invest 9,855 in Jyske Invest Nye on August 29, 2024 and sell it today you would earn a total of 109.00 from holding Jyske Invest Nye or generate 1.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Investeringsforeningen Danske vs. Jyske Invest Nye
Performance |
| Timeline |
| Investeringsforeningen |
| Jyske Invest Nye |
DKIEUHUAKLDKK and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DKIEUHUAKLDKK and Jyske Invest
The main advantage of trading using opposite DKIEUHUAKLDKK and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKIEUHUAKLDKK 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.| DKIEUHUAKLDKK vs. Sparindex INDEX OMX | DKIEUHUAKLDKK vs. Investeringsforeningen Danske Invest | DKIEUHUAKLDKK vs. Investeringsforeningen Danske Invest | DKIEUHUAKLDKK vs. C WorldWide Globale |
| 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |