Correlation Between IA Invest and Jyske Bank
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By analyzing existing cross correlation between IA Invest Advice and Jyske Bank AS, you can compare the effects of market volatilities on IA Invest and Jyske Bank 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 Jyske Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of IA Invest and Jyske Bank.
Diversification Opportunities for IA Invest and Jyske Bank
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between IAIACVF and Jyske is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding IA Invest Advice and Jyske Bank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Bank AS 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 Jyske Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Bank AS has no effect on the direction of IA Invest i.e., IA Invest and Jyske Bank go up and down completely randomly.
Pair Corralation between IA Invest and Jyske Bank
Assuming the 90 days trading horizon IA Invest Advice is expected to generate 0.61 times more return on investment than Jyske Bank. However, IA Invest Advice is 1.65 times less risky than Jyske Bank. It trades about 0.18 of its potential returns per unit of risk. Jyske Bank AS is currently generating about -0.02 per unit of risk. If you would invest 12,463 in IA Invest Advice on September 20, 2024 and sell it today you would earn a total of 1,505 from holding IA Invest Advice or generate 12.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
IA Invest Advice vs. Jyske Bank AS
Performance |
| Timeline |
| IA Invest Advice |
| Jyske Bank AS |
IA Invest and Jyske Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IA Invest and Jyske Bank
The main advantage of trading using opposite IA Invest and Jyske Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IA Invest position performs unexpectedly, Jyske Bank 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 Jyske Bank will offset losses from the drop in Jyske Bank's long position.| IA Invest vs. Alefarm Brewing AS | IA Invest vs. Cessatech AS | IA Invest vs. Sydbank AS | IA Invest vs. Strategic Investments AS |
| Jyske Bank vs. Nordinvestments AS | Jyske Bank vs. TROPHY GAMES Development | Jyske Bank vs. Lollands Bank | Jyske Bank vs. Nordea Bank Abp |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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