Correlation Between DKINYM and Maj Invest
Can any of the company-specific risk be diversified away by investing in both DKINYM and Maj Invest at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining DKINYM and Maj Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Investeringsforeningen Danske Invest and Maj Invest Kontra, you can compare the effects of market volatilities on DKINYM and Maj 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 DKINYM with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKINYM and Maj Invest.
Diversification Opportunities for DKINYM and Maj Invest
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DKINYM and Maj is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske and Maj Invest Kontra in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Kontra 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 Maj Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maj Invest Kontra has no effect on the direction of DKINYM i.e., DKINYM and Maj Invest go up and down completely randomly.
Pair Corralation between DKINYM and Maj Invest
If you would invest 16,351 in Investeringsforeningen Danske Invest on August 25, 2024 and sell it today you would earn a total of 4,118 from holding Investeringsforeningen Danske Invest or generate 25.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Investeringsforeningen Danske vs. Maj Invest Kontra
Performance |
| Timeline |
| Investeringsforeningen |
| Maj Invest Kontra |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
DKINYM and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DKINYM and Maj Invest
The main advantage of trading using opposite DKINYM and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKINYM position performs unexpectedly, Maj 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 Maj Invest will offset losses from the drop in Maj Invest's long position.| DKINYM vs. Jyske Invest Nye | DKINYM vs. Jyske Invest Korte | DKINYM vs. Jyske Invest Nye | DKINYM vs. Jyske Invest Virksomhedsobligationer |
| Maj Invest vs. Sparinvest Lange | Maj Invest vs. Investeringsforeningen Danske Invest | Maj Invest vs. Sparinv SICAV | Maj Invest vs. Investeringsforeningen Danske Invest |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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