Correlation Between DKIEUHUAKLDKK and Sparinvest Lange
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By analyzing existing cross correlation between Investeringsforeningen Danske Invest and Sparinvest Lange, you can compare the effects of market volatilities on DKIEUHUAKLDKK and Sparinvest Lange 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 Sparinvest Lange. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKIEUHUAKLDKK and Sparinvest Lange.
Diversification Opportunities for DKIEUHUAKLDKK and Sparinvest Lange
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between DKIEUHUAKLDKK and Sparinvest is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske and Sparinvest Lange in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinvest Lange 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 Sparinvest Lange. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinvest Lange has no effect on the direction of DKIEUHUAKLDKK i.e., DKIEUHUAKLDKK and Sparinvest Lange go up and down completely randomly.
Pair Corralation between DKIEUHUAKLDKK and Sparinvest Lange
Assuming the 90 days trading horizon Investeringsforeningen Danske Invest is expected to generate 2.96 times more return on investment than Sparinvest Lange. However, DKIEUHUAKLDKK is 2.96 times more volatile than Sparinvest Lange. It trades about 0.06 of its potential returns per unit of risk. Sparinvest Lange is currently generating about 0.07 per unit of risk. If you would invest 21,532 in Investeringsforeningen Danske Invest on February 10, 2025 and sell it today you would earn a total of 2,778 from holding Investeringsforeningen Danske Invest or generate 12.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Investeringsforeningen Danske vs. Sparinvest Lange
Performance |
| Timeline |
| Investeringsforeningen |
| Sparinvest Lange |
DKIEUHUAKLDKK and Sparinvest Lange Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DKIEUHUAKLDKK and Sparinvest Lange
The main advantage of trading using opposite DKIEUHUAKLDKK and Sparinvest Lange positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKIEUHUAKLDKK position performs unexpectedly, Sparinvest Lange 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 Sparinvest Lange will offset losses from the drop in Sparinvest Lange's long position.| DKIEUHUAKLDKK vs. Jyske Invest Nye | DKIEUHUAKLDKK vs. Jyske Invest Korte | DKIEUHUAKLDKK vs. Jyske Invest Nye | DKIEUHUAKLDKK vs. Jyske Invest Virksomhedsobligationer |
| Sparinvest Lange vs. Jyske Invest Nye | Sparinvest Lange vs. Jyske Invest Korte | Sparinvest Lange vs. Jyske Invest Nye | Sparinvest Lange vs. Jyske Invest Virksomhedsobligationer |
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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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