Correlation Between Jyske Invest and Sparinvest INDEX
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By analyzing existing cross correlation between Jyske Invest Lange and Sparinvest INDEX Mellem, you can compare the effects of market volatilities on Jyske Invest and Sparinvest 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 Sparinvest INDEX. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Sparinvest INDEX.
Diversification Opportunities for Jyske Invest and Sparinvest INDEX
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jyske and Sparinvest is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Lange and Sparinvest INDEX Mellem in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinvest INDEX Mellem 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 INDEX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinvest INDEX Mellem has no effect on the direction of Jyske Invest i.e., Jyske Invest and Sparinvest INDEX go up and down completely randomly.
Pair Corralation between Jyske Invest and Sparinvest INDEX
Assuming the 90 days trading horizon Jyske Invest Lange is expected to under-perform the Sparinvest INDEX. In addition to that, Jyske Invest is 1.11 times more volatile than Sparinvest INDEX Mellem. It trades about -0.04 of its total potential returns per unit of risk. Sparinvest INDEX Mellem is currently generating about 0.18 per unit of volatility. If you would invest 12,060 in Sparinvest INDEX Mellem on November 4, 2024 and sell it today you would earn a total of 210.00 from holding Sparinvest INDEX Mellem or generate 1.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Lange vs. Sparinvest INDEX Mellem
Performance |
| Timeline |
| Jyske Invest Lange |
| Sparinvest INDEX Mellem |
Jyske Invest and Sparinvest INDEX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Sparinvest INDEX
The main advantage of trading using opposite Jyske Invest and Sparinvest INDEX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Sparinvest 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 Sparinvest INDEX will offset losses from the drop in Sparinvest INDEX's long position.| Jyske Invest vs. Scandinavian Medical Solutions | Jyske Invest vs. Carnegie Wealth Management | Jyske Invest vs. TROPHY GAMES Development | Jyske Invest vs. Laan Spar Bank |
| Sparinvest INDEX vs. Sparinvest Lange | Sparinvest INDEX vs. Sparinvest Value Emerging | Sparinvest INDEX vs. Sparinvest INDEX Europa | Sparinvest INDEX vs. Sparinvest INDEX Hj |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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