Correlation Between Genmab AS and BankInv GloAkColum
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By analyzing existing cross correlation between Genmab AS and BankInv GloAkColum Threadndl, you can compare the effects of market volatilities on Genmab AS and BankInv GloAkColum 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 Genmab AS with a short position of BankInv GloAkColum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genmab AS and BankInv GloAkColum.
Diversification Opportunities for Genmab AS and BankInv GloAkColum
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Genmab and BankInv is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Genmab AS and BankInv GloAkColum Threadndl in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInv GloAkColum and Genmab AS 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 Genmab AS are associated (or correlated) with BankInv GloAkColum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInv GloAkColum has no effect on the direction of Genmab AS i.e., Genmab AS and BankInv GloAkColum go up and down completely randomly.
Pair Corralation between Genmab AS and BankInv GloAkColum
Assuming the 90 days trading horizon Genmab AS is expected to under-perform the BankInv GloAkColum. In addition to that, Genmab AS is 2.12 times more volatile than BankInv GloAkColum Threadndl. It trades about -0.05 of its total potential returns per unit of risk. BankInv GloAkColum Threadndl is currently generating about 0.07 per unit of volatility. If you would invest 13,060 in BankInv GloAkColum Threadndl on August 25, 2024 and sell it today you would earn a total of 1,200 from holding BankInv GloAkColum Threadndl or generate 9.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 59.78% |
| Values | Daily Returns |
Genmab AS vs. BankInv GloAkColum Threadndl
Performance |
| Timeline |
| Genmab AS |
| BankInv GloAkColum |
Genmab AS and BankInv GloAkColum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Genmab AS and BankInv GloAkColum
The main advantage of trading using opposite Genmab AS and BankInv GloAkColum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genmab AS position performs unexpectedly, BankInv GloAkColum 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 BankInv GloAkColum will offset losses from the drop in BankInv GloAkColum's long position.| Genmab AS vs. Ambu AS | Genmab AS vs. DSV Panalpina AS | Genmab AS vs. Bavarian Nordic | Genmab AS vs. GN Store Nord |
| BankInv GloAkColum vs. BankInvest Value Globale | BankInv GloAkColum vs. Jyske Bank AS | BankInv GloAkColum vs. Laan Spar Bank | BankInv GloAkColum vs. Kreditbanken AS |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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