Correlation Between Formuepleje Mix and OMX Copenhagen
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By analyzing existing cross correlation between Formuepleje Mix Medium and OMX Copenhagen All, you can compare the effects of market volatilities on Formuepleje Mix and OMX Copenhagen 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 Formuepleje Mix with a short position of OMX Copenhagen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Formuepleje Mix and OMX Copenhagen.
Diversification Opportunities for Formuepleje Mix and OMX Copenhagen
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Formuepleje and OMX is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding Formuepleje Mix Medium and OMX Copenhagen All in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on OMX Copenhagen All and Formuepleje Mix 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 Formuepleje Mix Medium are associated (or correlated) with OMX Copenhagen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMX Copenhagen All has no effect on the direction of Formuepleje Mix i.e., Formuepleje Mix and OMX Copenhagen go up and down completely randomly.
Pair Corralation between Formuepleje Mix and OMX Copenhagen
Assuming the 90 days trading horizon Formuepleje Mix Medium is expected to generate 0.51 times more return on investment than OMX Copenhagen. However, Formuepleje Mix Medium is 1.96 times less risky than OMX Copenhagen. It trades about 0.22 of its potential returns per unit of risk. OMX Copenhagen All is currently generating about -0.02 per unit of risk. If you would invest 29,060 in Formuepleje Mix Medium on September 1, 2024 and sell it today you would earn a total of 890.00 from holding Formuepleje Mix Medium or generate 3.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 86.96% |
| Values | Daily Returns |
Formuepleje Mix Medium vs. OMX Copenhagen All
Performance |
| Timeline |
Formuepleje Mix and OMX Copenhagen Volatility Contrast
Predicted Return Density |
| Returns |
Formuepleje Mix Medium
Pair trading matchups for Formuepleje Mix
OMX Copenhagen All
Pair trading matchups for OMX Copenhagen
Pair Trading with Formuepleje Mix and OMX Copenhagen
The main advantage of trading using opposite Formuepleje Mix and OMX Copenhagen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Formuepleje Mix position performs unexpectedly, OMX Copenhagen 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 OMX Copenhagen will offset losses from the drop in OMX Copenhagen's long position.| Formuepleje Mix vs. Novo Nordisk AS | Formuepleje Mix vs. Nordea Bank Abp | Formuepleje Mix vs. DSV Panalpina AS | Formuepleje Mix vs. AP Mller |
| OMX Copenhagen vs. Lollands Bank | OMX Copenhagen vs. Scandinavian Medical Solutions | OMX Copenhagen vs. Skjern Bank AS | OMX Copenhagen vs. Danske Andelskassers Bank |
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 Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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