Correlation Between Handelsinvest Danmark and C WorldWide
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By analyzing existing cross correlation between Handelsinvest Danmark and C WorldWide Globale, you can compare the effects of market volatilities on Handelsinvest Danmark and C WorldWide 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 Handelsinvest Danmark with a short position of C WorldWide. Check out your portfolio center. Please also check ongoing floating volatility patterns of Handelsinvest Danmark and C WorldWide.
Diversification Opportunities for Handelsinvest Danmark and C WorldWide
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Handelsinvest and CWIGAKLA is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Handelsinvest Danmark and C WorldWide Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C WorldWide Globale and Handelsinvest Danmark 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 Handelsinvest Danmark are associated (or correlated) with C WorldWide. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C WorldWide Globale has no effect on the direction of Handelsinvest Danmark i.e., Handelsinvest Danmark and C WorldWide go up and down completely randomly.
Pair Corralation between Handelsinvest Danmark and C WorldWide
Assuming the 90 days trading horizon Handelsinvest Danmark is expected to under-perform the C WorldWide. But the fund apears to be less risky and, when comparing its historical volatility, Handelsinvest Danmark is 1.44 times less risky than C WorldWide. The fund trades about -0.25 of its potential returns per unit of risk. The C WorldWide Globale is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest 95,480 in C WorldWide Globale on November 4, 2024 and sell it today you would lose (5,490) from holding C WorldWide Globale or give up 5.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Handelsinvest Danmark vs. C WorldWide Globale
Performance |
| Timeline |
| Handelsinvest Danmark |
| C WorldWide Globale |
Handelsinvest Danmark and C WorldWide Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Handelsinvest Danmark and C WorldWide
The main advantage of trading using opposite Handelsinvest Danmark and C WorldWide positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Handelsinvest Danmark position performs unexpectedly, C WorldWide 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 C WorldWide will offset losses from the drop in C WorldWide's long position.| Handelsinvest Danmark vs. Sparinvest Lange | Handelsinvest Danmark vs. Investeringsforeningen Danske Invest | Handelsinvest Danmark vs. Sparinv SICAV | Handelsinvest Danmark vs. Sparinvest Value Emerging |
| C WorldWide vs. Sparinvest INDEX Globale | C WorldWide vs. Bavarian Nordic | C WorldWide vs. Investeringsselskabet Luxor AS | C WorldWide vs. cBrain 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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