Correlation Between Fynske Bank and BankInvest Value
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By analyzing existing cross correlation between Fynske Bank AS and BankInvest Value Globale, you can compare the effects of market volatilities on Fynske Bank and BankInvest Value 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 Fynske Bank with a short position of BankInvest Value. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fynske Bank and BankInvest Value.
Diversification Opportunities for Fynske Bank and BankInvest Value
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fynske and BankInvest is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Fynske Bank AS and BankInvest Value Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Value Globale and Fynske Bank 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 Fynske Bank AS are associated (or correlated) with BankInvest Value. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Value Globale has no effect on the direction of Fynske Bank i.e., Fynske Bank and BankInvest Value go up and down completely randomly.
Pair Corralation between Fynske Bank and BankInvest Value
Assuming the 90 days trading horizon Fynske Bank AS is expected to under-perform the BankInvest Value. In addition to that, Fynske Bank is 1.72 times more volatile than BankInvest Value Globale. It trades about -0.08 of its total potential returns per unit of risk. BankInvest Value Globale is currently generating about 0.31 per unit of volatility. If you would invest 10,190 in BankInvest Value Globale on September 1, 2024 and sell it today you would earn a total of 560.00 from holding BankInvest Value Globale or generate 5.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Fynske Bank AS vs. BankInvest Value Globale
Performance |
| Timeline |
| Fynske Bank AS |
| BankInvest Value Globale |
Fynske Bank and BankInvest Value Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fynske Bank and BankInvest Value
The main advantage of trading using opposite Fynske Bank and BankInvest Value positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fynske Bank position performs unexpectedly, BankInvest Value 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 BankInvest Value will offset losses from the drop in BankInvest Value's long position.| Fynske Bank vs. Sydbank AS | Fynske Bank vs. Jyske Bank AS | Fynske Bank vs. Alm Brand | Fynske Bank vs. Nordea Bank Abp |
| BankInvest Value vs. Novo Nordisk AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. DSV Panalpina AS | BankInvest Value 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 Stocks Directory module to find actively traded stocks across global markets.
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