Correlation Between IA Invest and BankIn Bredygt
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By analyzing existing cross correlation between IA Invest Advice and BankIn Bredygt Klimaakt, you can compare the effects of market volatilities on IA Invest and BankIn Bredygt 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 IA Invest with a short position of BankIn Bredygt. Check out your portfolio center. Please also check ongoing floating volatility patterns of IA Invest and BankIn Bredygt.
Diversification Opportunities for IA Invest and BankIn Bredygt
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IAIACVF and BankIn is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding IA Invest Advice and BankIn Bredygt Klimaakt in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankIn Bredygt Klimaakt and IA Invest 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 IA Invest Advice are associated (or correlated) with BankIn Bredygt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankIn Bredygt Klimaakt has no effect on the direction of IA Invest i.e., IA Invest and BankIn Bredygt go up and down completely randomly.
Pair Corralation between IA Invest and BankIn Bredygt
Assuming the 90 days trading horizon IA Invest Advice is expected to generate 0.68 times more return on investment than BankIn Bredygt. However, IA Invest Advice is 1.47 times less risky than BankIn Bredygt. It trades about 0.09 of its potential returns per unit of risk. BankIn Bredygt Klimaakt is currently generating about 0.02 per unit of risk. If you would invest 12,170 in IA Invest Advice on September 19, 2024 and sell it today you would earn a total of 1,705 from holding IA Invest Advice or generate 14.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 86.05% |
| Values | Daily Returns |
IA Invest Advice vs. BankIn Bredygt Klimaakt
Performance |
| Timeline |
| IA Invest Advice |
| BankIn Bredygt Klimaakt |
IA Invest and BankIn Bredygt Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IA Invest and BankIn Bredygt
The main advantage of trading using opposite IA Invest and BankIn Bredygt positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IA Invest position performs unexpectedly, BankIn Bredygt 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 BankIn Bredygt will offset losses from the drop in BankIn Bredygt's long position.| IA Invest vs. BankIn Bredygt Klimaakt | IA Invest vs. Jyske Bank AS | IA Invest vs. Scandinavian Medical Solutions | IA Invest vs. Kreditbanken AS |
| BankIn Bredygt vs. Strategic Investments AS | BankIn Bredygt vs. Jyske Bank AS | BankIn Bredygt vs. Laan Spar Bank | BankIn Bredygt vs. NTG Nordic Transport |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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