Correlation Between Glunz Jensen and LUXOR-B
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By analyzing existing cross correlation between Glunz Jensen and Investeringsselskabet Luxor AS, you can compare the effects of market volatilities on Glunz Jensen 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 Glunz Jensen with a short position of LUXOR-B. Check out your portfolio center. Please also check ongoing floating volatility patterns of Glunz Jensen and LUXOR-B.
Diversification Opportunities for Glunz Jensen and LUXOR-B
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Glunz and LUXOR-B is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Glunz Jensen and Investeringsselskabet Luxor AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsselskabet and Glunz Jensen 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 Glunz Jensen 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 Glunz Jensen i.e., Glunz Jensen and LUXOR-B go up and down completely randomly.
Pair Corralation between Glunz Jensen and LUXOR-B
Assuming the 90 days horizon Glunz Jensen is expected to generate 0.56 times more return on investment than LUXOR-B. However, Glunz Jensen is 1.77 times less risky than LUXOR-B. It trades about -0.08 of its potential returns per unit of risk. Investeringsselskabet Luxor AS is currently generating about -0.07 per unit of risk. If you would invest 6,700 in Glunz Jensen on August 29, 2024 and sell it today you would lose (150.00) from holding Glunz Jensen or give up 2.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Glunz Jensen vs. Investeringsselskabet Luxor AS
Performance |
| Timeline |
| Glunz Jensen |
| Investeringsselskabet |
Glunz Jensen and LUXOR-B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Glunz Jensen and LUXOR-B
The main advantage of trading using opposite Glunz Jensen and LUXOR-B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Glunz Jensen 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.| Glunz Jensen vs. First Farms AS | Glunz Jensen vs. SKAKO AS | Glunz Jensen vs. Rovsing AS | Glunz Jensen vs. Roblon 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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