Correlation Between Jyske Invest and Sparindex INDEX
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By analyzing existing cross correlation between Jyske Invest Hjt and Sparindex INDEX Stabile, you can compare the effects of market volatilities on Jyske Invest and Sparindex INDEX 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 Sparindex INDEX. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Sparindex INDEX.
Diversification Opportunities for Jyske Invest and Sparindex INDEX
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jyske and Sparindex is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Hjt and Sparindex INDEX Stabile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparindex INDEX Stabile 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 Sparindex INDEX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparindex INDEX Stabile has no effect on the direction of Jyske Invest i.e., Jyske Invest and Sparindex INDEX go up and down completely randomly.
Pair Corralation between Jyske Invest and Sparindex INDEX
Assuming the 90 days trading horizon Jyske Invest Hjt is expected to generate 1.76 times more return on investment than Sparindex INDEX. However, Jyske Invest is 1.76 times more volatile than Sparindex INDEX Stabile. It trades about 0.09 of its potential returns per unit of risk. Sparindex INDEX Stabile is currently generating about 0.1 per unit of risk. If you would invest 9,072 in Jyske Invest Hjt on September 4, 2024 and sell it today you would earn a total of 1,243 from holding Jyske Invest Hjt or generate 13.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 94.56% |
| Values | Daily Returns |
Jyske Invest Hjt vs. Sparindex INDEX Stabile
Performance |
| Timeline |
| Jyske Invest Hjt |
| Sparindex INDEX Stabile |
Jyske Invest and Sparindex INDEX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Sparindex INDEX
The main advantage of trading using opposite Jyske Invest and Sparindex INDEX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Sparindex INDEX 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 Sparindex INDEX will offset losses from the drop in Sparindex INDEX's long position.| Jyske Invest vs. Novo Nordisk AS | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. DSV Panalpina AS | Jyske Invest vs. AP Mller |
| Sparindex INDEX vs. Sparinvest Lange | Sparindex INDEX vs. Investeringsforeningen Danske Invest | Sparindex INDEX vs. Sparinv SICAV | Sparindex INDEX vs. Sparinvest Value Emerging |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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