Correlation Between Jyske Invest and Sparinv SICAV
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By analyzing existing cross correlation between Jyske Invest Korte and Sparinv SICAV, you can compare the effects of market volatilities on Jyske Invest and Sparinv SICAV 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 Sparinv SICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Sparinv SICAV.
Diversification Opportunities for Jyske Invest and Sparinv SICAV
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jyske and Sparinv is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Korte and Sparinv SICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinv SICAV 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 Sparinv SICAV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinv SICAV has no effect on the direction of Jyske Invest i.e., Jyske Invest and Sparinv SICAV go up and down completely randomly.
Pair Corralation between Jyske Invest and Sparinv SICAV
Assuming the 90 days trading horizon Jyske Invest is expected to generate 9.98 times less return on investment than Sparinv SICAV. But when comparing it to its historical volatility, Jyske Invest Korte is 18.38 times less risky than Sparinv SICAV. It trades about 0.32 of its potential returns per unit of risk. Sparinv SICAV is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 28,360 in Sparinv SICAV on August 25, 2024 and sell it today you would earn a total of 1,110 from holding Sparinv SICAV or generate 3.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Korte vs. Sparinv SICAV
Performance |
| Timeline |
| Jyske Invest Korte |
| Sparinv SICAV |
Jyske Invest and Sparinv SICAV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Sparinv SICAV
The main advantage of trading using opposite Jyske Invest and Sparinv SICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Sparinv SICAV 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 Sparinv SICAV will offset losses from the drop in Sparinv SICAV'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 |
| Sparinv SICAV vs. Jyske Invest Nye | Sparinv SICAV vs. Jyske Invest Korte | Sparinv SICAV vs. Jyske Invest Nye | Sparinv SICAV 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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