Correlation Between DKINMAKK and Dow Jones
Specify exactly 2 symbols:
By analyzing existing cross correlation between Investeringsforeningen Danske Invest and Dow Jones Industrial, you can compare the effects of market volatilities on DKINMAKK and Dow Jones 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 DKINMAKK with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKINMAKK and Dow Jones.
Diversification Opportunities for DKINMAKK and Dow Jones
Very weak diversification
The 3 months correlation between DKINMAKK and Dow is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and DKINMAKK 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of DKINMAKK i.e., DKINMAKK and Dow Jones go up and down completely randomly.
Pair Corralation between DKINMAKK and Dow Jones
Assuming the 90 days trading horizon Investeringsforeningen Danske Invest is expected to under-perform the Dow Jones. In addition to that, DKINMAKK is 1.32 times more volatile than Dow Jones Industrial. It trades about -0.06 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about -0.01 per unit of volatility. If you would invest 4,429,313 in Dow Jones Industrial on September 12, 2024 and sell it today you would lose (4,530) from holding Dow Jones Industrial or give up 0.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 91.3% |
| Values | Daily Returns |
Investeringsforeningen Danske vs. Dow Jones Industrial
Performance |
| Timeline |
DKINMAKK and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Investeringsforeningen Danske Invest
Pair trading matchups for DKINMAKK
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with DKINMAKK and Dow Jones
The main advantage of trading using opposite DKINMAKK and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKINMAKK position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| DKINMAKK vs. Ringkjoebing Landbobank AS | DKINMAKK vs. Sydbank AS | DKINMAKK vs. Strategic Investments AS | DKINMAKK vs. Vestjysk Bank AS |
| Dow Jones vs. Aeye Inc | Dow Jones vs. Gentex | Dow Jones vs. Marine Products | Dow Jones vs. CarsalesCom Ltd ADR |
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 Valuation module to check real value of public entities based on technical and fundamental data.
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |