Correlation Between Jyske Invest and Sparinvest Europa
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By analyzing existing cross correlation between Jyske Invest Lange 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
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jyske and Sparinvest is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Lange 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 Lange 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 is expected to generate 1.11 times less return on investment than Sparinvest Europa. But when comparing it to its historical volatility, Jyske Invest Lange is 2.97 times less risky than Sparinvest Europa. It trades about 0.1 of its potential returns per unit of risk. Sparinvest Europa Growth is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 14,894 in Sparinvest Europa Growth on August 25, 2024 and sell it today you would earn a total of 1,029 from holding Sparinvest Europa Growth or generate 6.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.81% |
| Values | Daily Returns |
Jyske Invest Lange vs. Sparinvest Europa Growth
Performance |
| Timeline |
| Jyske Invest Lange |
| 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. Novo Nordisk AS | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. DSV Panalpina AS | Jyske Invest vs. AP Mller |
| 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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