Correlation Between Danske Invest and Strategic Investments
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By analyzing existing cross correlation between Danske Invest and Strategic Investments AS, you can compare the effects of market volatilities on Danske Invest and Strategic Investments 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 Strategic Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Danske Invest and Strategic Investments.
Diversification Opportunities for Danske Invest and Strategic Investments
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Danske and Strategic is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Danske Invest and Strategic Investments AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Strategic Investments 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 are associated (or correlated) with Strategic Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Strategic Investments has no effect on the direction of Danske Invest i.e., Danske Invest and Strategic Investments go up and down completely randomly.
Pair Corralation between Danske Invest and Strategic Investments
Assuming the 90 days trading horizon Danske Invest is expected to generate 0.09 times more return on investment than Strategic Investments. However, Danske Invest is 11.12 times less risky than Strategic Investments. It trades about 0.12 of its potential returns per unit of risk. Strategic Investments AS is currently generating about -0.01 per unit of risk. If you would invest 7,874 in Danske Invest on December 4, 2024 and sell it today you would earn a total of 924.00 from holding Danske Invest or generate 11.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Danske Invest vs. Strategic Investments AS
Performance |
| Timeline |
| Danske Invest |
| Strategic Investments |
Danske Invest and Strategic Investments Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Danske Invest and Strategic Investments
The main advantage of trading using opposite Danske Invest and Strategic Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Danske Invest position performs unexpectedly, Strategic Investments 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 Strategic Investments will offset losses from the drop in Strategic Investments' long position.| Danske Invest vs. Kreditbanken AS | Danske Invest vs. Moens Bank AS | Danske Invest vs. Formuepleje Mix Medium | Danske Invest vs. Lollands Bank |
| Strategic Investments vs. Newcap Holding AS | Strategic Investments vs. SKAKO AS | Strategic Investments vs. Rovsing 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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