Correlation Between Fast Ejendom and Danske Invest
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By analyzing existing cross correlation between Fast Ejendom and Danske Invest Euro, you can compare the effects of market volatilities on Fast Ejendom and Danske 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 Fast Ejendom with a short position of Danske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fast Ejendom and Danske Invest.
Diversification Opportunities for Fast Ejendom and Danske Invest
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Fast and Danske is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Fast Ejendom and Danske Invest Euro in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Danske Invest Euro and Fast Ejendom 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 Fast Ejendom are associated (or correlated) with Danske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Danske Invest Euro has no effect on the direction of Fast Ejendom i.e., Fast Ejendom and Danske Invest go up and down completely randomly.
Pair Corralation between Fast Ejendom and Danske Invest
Assuming the 90 days trading horizon Fast Ejendom is expected to generate 10.42 times more return on investment than Danske Invest. However, Fast Ejendom is 10.42 times more volatile than Danske Invest Euro. It trades about 0.23 of its potential returns per unit of risk. Danske Invest Euro is currently generating about 0.38 per unit of risk. If you would invest 11,800 in Fast Ejendom on September 13, 2024 and sell it today you would earn a total of 800.00 from holding Fast Ejendom or generate 6.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Fast Ejendom vs. Danske Invest Euro
Performance |
| Timeline |
| Fast Ejendom |
| Danske Invest Euro |
Fast Ejendom and Danske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fast Ejendom and Danske Invest
The main advantage of trading using opposite Fast Ejendom and Danske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fast Ejendom position performs unexpectedly, Danske 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 Danske Invest will offset losses from the drop in Danske Invest's long position.| Fast Ejendom vs. Prime Office AS | Fast Ejendom vs. First Farms AS | Fast Ejendom vs. Jeudan | Fast Ejendom vs. Gabriel Holding |
| Danske Invest vs. Novo Nordisk AS | Danske Invest vs. Nordea Bank Abp | Danske Invest vs. DSV Panalpina AS | Danske Invest vs. AP Mller |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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