Correlation Between Fynske Bank and LUXOR-B
Specify exactly 2 symbols:
By analyzing existing cross correlation between Fynske Bank AS and Investeringsselskabet Luxor AS, you can compare the effects of market volatilities on Fynske Bank and LUXOR-B 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 LUXOR-B. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fynske Bank and LUXOR-B.
Diversification Opportunities for Fynske Bank and LUXOR-B
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Fynske and LUXOR-B is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Fynske Bank AS and Investeringsselskabet Luxor AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsselskabet 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 LUXOR-B. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsselskabet has no effect on the direction of Fynske Bank i.e., Fynske Bank and LUXOR-B go up and down completely randomly.
Pair Corralation between Fynske Bank and LUXOR-B
Assuming the 90 days trading horizon Fynske Bank AS is expected to generate 0.56 times more return on investment than LUXOR-B. However, Fynske Bank AS is 1.78 times less risky than LUXOR-B. It trades about 0.03 of its potential returns per unit of risk. Investeringsselskabet Luxor AS is currently generating about -0.17 per unit of risk. If you would invest 15,400 in Fynske Bank AS on November 4, 2024 and sell it today you would earn a total of 100.00 from holding Fynske Bank AS or generate 0.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fynske Bank AS vs. Investeringsselskabet Luxor AS
Performance |
| Timeline |
| Fynske Bank AS |
| Investeringsselskabet |
Fynske Bank and LUXOR-B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fynske Bank and LUXOR-B
The main advantage of trading using opposite Fynske Bank and LUXOR-B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fynske Bank position performs unexpectedly, LUXOR-B 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 LUXOR-B will offset losses from the drop in LUXOR-B's long position.| Fynske Bank vs. Skjern Bank AS | Fynske Bank vs. Djurslands Bank | Fynske Bank vs. Sparekassen Sjaelland Fyn AS | Fynske Bank vs. Groenlandsbanken AS |
| LUXOR-B vs. Skjern Bank AS | LUXOR-B vs. Groenlandsbanken AS | LUXOR-B vs. Fynske Bank AS | LUXOR-B vs. Lollands 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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |