Correlation Between Genmab AS and Handelsinvest Danske
Specify exactly 2 symbols:
By analyzing existing cross correlation between Genmab AS and Handelsinvest Danske Obligationer, you can compare the effects of market volatilities on Genmab AS and Handelsinvest Danske 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 Handelsinvest Danske. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genmab AS and Handelsinvest Danske.
Diversification Opportunities for Genmab AS and Handelsinvest Danske
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Genmab and Handelsinvest is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Genmab AS and Handelsinvest Danske Obligatio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Handelsinvest Danske 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 Handelsinvest Danske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Handelsinvest Danske has no effect on the direction of Genmab AS i.e., Genmab AS and Handelsinvest Danske go up and down completely randomly.
Pair Corralation between Genmab AS and Handelsinvest Danske
Assuming the 90 days trading horizon Genmab AS is expected to under-perform the Handelsinvest Danske. In addition to that, Genmab AS is 10.79 times more volatile than Handelsinvest Danske Obligationer. It trades about -0.05 of its total potential returns per unit of risk. Handelsinvest Danske Obligationer is currently generating about 0.13 per unit of volatility. If you would invest 8,819 in Handelsinvest Danske Obligationer on November 19, 2024 and sell it today you would earn a total of 1,054 from holding Handelsinvest Danske Obligationer or generate 11.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Genmab AS vs. Handelsinvest Danske Obligatio
Performance |
| Timeline |
| Genmab AS |
| Handelsinvest Danske |
Genmab AS and Handelsinvest Danske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Genmab AS and Handelsinvest Danske
The main advantage of trading using opposite Genmab AS and Handelsinvest Danske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genmab AS position performs unexpectedly, Handelsinvest Danske 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 Handelsinvest Danske will offset losses from the drop in Handelsinvest Danske'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 |
| Handelsinvest Danske vs. Cessatech AS | Handelsinvest Danske vs. Nordinvestments AS | Handelsinvest Danske vs. Moens Bank AS | Handelsinvest Danske vs. Strategic Investments 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |