Correlation Between Handelsinvest Danske and Alefarm Brewing
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By analyzing existing cross correlation between Handelsinvest Danske Obligationer and Alefarm Brewing AS, you can compare the effects of market volatilities on Handelsinvest Danske and Alefarm Brewing 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 Danske with a short position of Alefarm Brewing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Handelsinvest Danske and Alefarm Brewing.
Diversification Opportunities for Handelsinvest Danske and Alefarm Brewing
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Handelsinvest and Alefarm is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Handelsinvest Danske Obligatio and Alefarm Brewing AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alefarm Brewing AS and Handelsinvest Danske 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 Danske Obligationer are associated (or correlated) with Alefarm Brewing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alefarm Brewing AS has no effect on the direction of Handelsinvest Danske i.e., Handelsinvest Danske and Alefarm Brewing go up and down completely randomly.
Pair Corralation between Handelsinvest Danske and Alefarm Brewing
Assuming the 90 days trading horizon Handelsinvest Danske Obligationer is expected to generate 0.03 times more return on investment than Alefarm Brewing. However, Handelsinvest Danske Obligationer is 30.51 times less risky than Alefarm Brewing. It trades about -0.1 of its potential returns per unit of risk. Alefarm Brewing AS is currently generating about -0.04 per unit of risk. If you would invest 9,838 in Handelsinvest Danske Obligationer on October 14, 2024 and sell it today you would lose (21.00) from holding Handelsinvest Danske Obligationer or give up 0.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Handelsinvest Danske Obligatio vs. Alefarm Brewing AS
Performance |
| Timeline |
| Handelsinvest Danske |
| Alefarm Brewing AS |
Handelsinvest Danske and Alefarm Brewing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Handelsinvest Danske and Alefarm Brewing
The main advantage of trading using opposite Handelsinvest Danske and Alefarm Brewing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Handelsinvest Danske position performs unexpectedly, Alefarm Brewing 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 Alefarm Brewing will offset losses from the drop in Alefarm Brewing's long position.| Handelsinvest Danske vs. Ringkjoebing Landbobank AS | Handelsinvest Danske vs. NTG Nordic Transport | Handelsinvest Danske vs. Groenlandsbanken AS | Handelsinvest Danske vs. Formuepleje Mix Medium |
| Alefarm Brewing vs. FOM Technologies AS | Alefarm Brewing vs. Moens Bank AS | Alefarm Brewing vs. Laan Spar Bank | Alefarm Brewing vs. Sydbank 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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