Correlation Between Franklin Floating and Nordea 1
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By analyzing existing cross correlation between Franklin Floating Rate and Nordea 1 , you can compare the effects of market volatilities on Franklin Floating and Nordea 1 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 Franklin Floating with a short position of Nordea 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Floating and Nordea 1.
Diversification Opportunities for Franklin Floating and Nordea 1
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Franklin and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Floating Rate and Nordea 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea 1 and Franklin Floating 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 Franklin Floating Rate are associated (or correlated) with Nordea 1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea 1 has no effect on the direction of Franklin Floating i.e., Franklin Floating and Nordea 1 go up and down completely randomly.
Pair Corralation between Franklin Floating and Nordea 1
If you would invest 34,413 in Nordea 1 on September 2, 2024 and sell it today you would earn a total of 6,452 from holding Nordea 1 or generate 18.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Franklin Floating Rate vs. Nordea 1
Performance |
| Timeline |
| Franklin Floating Rate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Nordea 1 |
Franklin Floating and Nordea 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Floating and Nordea 1
The main advantage of trading using opposite Franklin Floating and Nordea 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Floating position performs unexpectedly, Nordea 1 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 Nordea 1 will offset losses from the drop in Nordea 1's long position.| Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. KLP AksjeNorge Indeks |
| Nordea 1 vs. Nordea 1 | Nordea 1 vs. Nordea Norwegian Stars | Nordea 1 vs. Nordea North American | Nordea 1 vs. Nordea 1 |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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