Correlation Between DKINYM and C WorldWide
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By analyzing existing cross correlation between Investeringsforeningen Danske Invest and C WorldWide Globale, you can compare the effects of market volatilities on DKINYM and C WorldWide 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 DKINYM with a short position of C WorldWide. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKINYM and C WorldWide.
Diversification Opportunities for DKINYM and C WorldWide
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between DKINYM and CWIGAKLA is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske and C WorldWide Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C WorldWide Globale and DKINYM 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 C WorldWide. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C WorldWide Globale has no effect on the direction of DKINYM i.e., DKINYM and C WorldWide go up and down completely randomly.
Pair Corralation between DKINYM and C WorldWide
Assuming the 90 days trading horizon Investeringsforeningen Danske Invest is expected to under-perform the C WorldWide. But the fund apears to be less risky and, when comparing its historical volatility, Investeringsforeningen Danske Invest is 1.13 times less risky than C WorldWide. The fund trades about -0.05 of its potential returns per unit of risk. The C WorldWide Globale is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 92,170 in C WorldWide Globale on September 1, 2024 and sell it today you would earn a total of 3,830 from holding C WorldWide Globale or generate 4.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Investeringsforeningen Danske vs. C WorldWide Globale
Performance |
| Timeline |
| Investeringsforeningen |
| C WorldWide Globale |
DKINYM and C WorldWide Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DKINYM and C WorldWide
The main advantage of trading using opposite DKINYM and C WorldWide positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKINYM position performs unexpectedly, C WorldWide 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 C WorldWide will offset losses from the drop in C WorldWide's long position.| DKINYM vs. Jyske Invest Nye | DKINYM vs. Jyske Invest Korte | DKINYM vs. Jyske Invest Nye | DKINYM vs. Jyske Invest Virksomhedsobligationer |
| C WorldWide vs. Sparinvest INDEX Global | C WorldWide vs. Sparinvest Lange | C WorldWide vs. Investeringsforeningen Danske Invest | C WorldWide vs. Sparinv SICAV |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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