Correlation Between Jeudan and Copenhagen Capital
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By analyzing existing cross correlation between Jeudan and Copenhagen Capital AS, you can compare the effects of market volatilities on Jeudan and Copenhagen Capital 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 Jeudan with a short position of Copenhagen Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jeudan and Copenhagen Capital.
Diversification Opportunities for Jeudan and Copenhagen Capital
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jeudan and Copenhagen is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Jeudan and Copenhagen Capital AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Copenhagen Capital and Jeudan 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 Jeudan are associated (or correlated) with Copenhagen Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Copenhagen Capital has no effect on the direction of Jeudan i.e., Jeudan and Copenhagen Capital go up and down completely randomly.
Pair Corralation between Jeudan and Copenhagen Capital
Assuming the 90 days trading horizon Jeudan is expected to under-perform the Copenhagen Capital. In addition to that, Jeudan is 1.09 times more volatile than Copenhagen Capital AS. It trades about -0.42 of its total potential returns per unit of risk. Copenhagen Capital AS is currently generating about -0.03 per unit of volatility. If you would invest 510.00 in Copenhagen Capital AS on August 28, 2024 and sell it today you would lose (5.00) from holding Copenhagen Capital AS or give up 0.98% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jeudan vs. Copenhagen Capital AS
Performance |
| Timeline |
| Jeudan |
| Copenhagen Capital |
Jeudan and Copenhagen Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jeudan and Copenhagen Capital
The main advantage of trading using opposite Jeudan and Copenhagen Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jeudan position performs unexpectedly, Copenhagen Capital 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 Copenhagen Capital will offset losses from the drop in Copenhagen Capital's long position.| Jeudan vs. BioPorto | Jeudan vs. Newcap Holding AS | Jeudan vs. Agat Ejendomme AS | Jeudan vs. PF Atlantic Petroleum |
| Copenhagen Capital vs. SKAKO AS | Copenhagen Capital vs. Agat Ejendomme AS | Copenhagen Capital vs. Prime Office AS | Copenhagen Capital vs. Cemat 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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