Correlation Between Lord Abbett and Nordea 1
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By analyzing existing cross correlation between Lord Abbett Multi and Nordea 1 , you can compare the effects of market volatilities on Lord Abbett 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 Lord Abbett with a short position of Nordea 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lord Abbett and Nordea 1.
Diversification Opportunities for Lord Abbett and Nordea 1
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lord and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Multi and Nordea 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea 1 and Lord Abbett 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 Lord Abbett Multi 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 Lord Abbett i.e., Lord Abbett and Nordea 1 go up and down completely randomly.
Pair Corralation between Lord Abbett and Nordea 1
If you would invest (100.00) in Lord Abbett Multi on November 28, 2024 and sell it today you would earn a total of 100.00 from holding Lord Abbett Multi or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lord Abbett Multi vs. Nordea 1
Performance |
| Timeline |
| Lord Abbett Multi |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Nordea 1 |
Lord Abbett and Nordea 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lord Abbett and Nordea 1
The main advantage of trading using opposite Lord Abbett and Nordea 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lord Abbett 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.| Lord Abbett vs. KLP AksjeNorge Indeks | Lord Abbett vs. Nordea 1 | Lord Abbett vs. Franklin Floating Rate | Lord Abbett vs. Nordnet Teknologi Indeks |
| Nordea 1 vs. KLP AksjeNorge Indeks | Nordea 1 vs. Franklin Floating Rate | Nordea 1 vs. Nordnet Teknologi Indeks | Nordea 1 vs. DNB Norge Selektiv |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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