Correlation Between Jyske Invest and BankInvest Lange
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jyske Invest Korte and BankInvest Lange Danske, you can compare the effects of market volatilities on Jyske Invest and BankInvest Lange 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 BankInvest Lange. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and BankInvest Lange.
Diversification Opportunities for Jyske Invest and BankInvest Lange
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jyske and BankInvest is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Korte and BankInvest Lange Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Lange Danske 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 Korte are associated (or correlated) with BankInvest Lange. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Lange Danske has no effect on the direction of Jyske Invest i.e., Jyske Invest and BankInvest Lange go up and down completely randomly.
Pair Corralation between Jyske Invest and BankInvest Lange
Assuming the 90 days trading horizon Jyske Invest is expected to generate 2.4 times less return on investment than BankInvest Lange. But when comparing it to its historical volatility, Jyske Invest Korte is 2.9 times less risky than BankInvest Lange. It trades about 0.33 of its potential returns per unit of risk. BankInvest Lange Danske is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 8,900 in BankInvest Lange Danske on September 13, 2024 and sell it today you would earn a total of 96.00 from holding BankInvest Lange Danske or generate 1.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Korte vs. BankInvest Lange Danske
Performance |
| Timeline |
| Jyske Invest Korte |
| BankInvest Lange Danske |
Jyske Invest and BankInvest Lange Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and BankInvest Lange
The main advantage of trading using opposite Jyske Invest and BankInvest Lange positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, BankInvest Lange 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 BankInvest Lange will offset losses from the drop in BankInvest Lange'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 |
| BankInvest Lange vs. BankInvest Emerging | BankInvest Lange vs. BankInvest Emerging | BankInvest Lange vs. BankInvest Hjt | BankInvest Lange vs. BankInvest Danske |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |