Correlation Between Genmab AS and IA Invest
Can any of the company-specific risk be diversified away by investing in both Genmab AS and IA Invest at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Genmab AS and IA Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Genmab AS and IA Invest Peruma, you can compare the effects of market volatilities on Genmab AS and IA Invest 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 IA Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genmab AS and IA Invest.
Diversification Opportunities for Genmab AS and IA Invest
Pay attention - limited upside
The 3 months correlation between Genmab and IAIPGA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Genmab AS and IA Invest Peruma in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IA Invest Peruma 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 IA Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IA Invest Peruma has no effect on the direction of Genmab AS i.e., Genmab AS and IA Invest go up and down completely randomly.
Pair Corralation between Genmab AS and IA Invest
If you would invest 148,800 in Genmab AS on September 28, 2024 and sell it today you would lose (300.00) from holding Genmab AS or give up 0.2% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Genmab AS vs. IA Invest Peruma
Performance |
Timeline |
Genmab AS |
IA Invest Peruma |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Genmab AS and IA Invest Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Genmab AS and IA Invest
The main advantage of trading using opposite Genmab AS and IA Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genmab AS position performs unexpectedly, IA Invest 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 IA Invest will offset losses from the drop in IA Invest'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 |
IA Invest vs. BankInvest Value Globale | ||
IA Invest vs. Scandinavian Medical Solutions | ||
IA Invest vs. NTG Nordic Transport | ||
IA Invest vs. Moens Bank 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |