Correlation Between Jyske Invest and Sparinvest Europa
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jyske Invest Hjt and Sparinvest Europa Growth, you can compare the effects of market volatilities on Jyske Invest and Sparinvest Europa 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 Jyske Invest with a short position of Sparinvest Europa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Sparinvest Europa.
Diversification Opportunities for Jyske Invest and Sparinvest Europa
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jyske and Sparinvest is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Hjt and Sparinvest Europa Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinvest Europa Growth and Jyske 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 Jyske Invest Hjt are associated (or correlated) with Sparinvest Europa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinvest Europa Growth has no effect on the direction of Jyske Invest i.e., Jyske Invest and Sparinvest Europa go up and down completely randomly.
Pair Corralation between Jyske Invest and Sparinvest Europa
Assuming the 90 days trading horizon Jyske Invest Hjt is expected to generate 0.16 times more return on investment than Sparinvest Europa. However, Jyske Invest Hjt is 6.28 times less risky than Sparinvest Europa. It trades about 0.11 of its potential returns per unit of risk. Sparinvest Europa Growth is currently generating about -0.13 per unit of risk. If you would invest 10,178 in Jyske Invest Hjt on August 29, 2024 and sell it today you would earn a total of 40.00 from holding Jyske Invest Hjt or generate 0.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Hjt vs. Sparinvest Europa Growth
Performance |
| Timeline |
| Jyske Invest Hjt |
| Sparinvest Europa Growth |
Jyske Invest and Sparinvest Europa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Sparinvest Europa
The main advantage of trading using opposite Jyske Invest and Sparinvest Europa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Sparinvest Europa 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 Sparinvest Europa will offset losses from the drop in Sparinvest Europa's long position.| Jyske Invest vs. Danske Andelskassers Bank | Jyske Invest vs. Lollands Bank | Jyske Invest vs. Groenlandsbanken AS | Jyske Invest vs. BankIn Bredygt Klimaakt |
| Sparinvest Europa vs. Jyske Invest Nye | Sparinvest Europa vs. Jyske Invest Korte | Sparinvest Europa vs. Jyske Invest Nye | Sparinvest Europa vs. Jyske Invest Virksomhedsobligationer |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |