Correlation Between Jyske Invest and BAIGAI
Can any of the company-specific risk be diversified away by investing in both Jyske Invest and BAIGAI at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Jyske Invest and BAIGAI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jyske Invest Nye and Investeringsforeningen Bankinvest , you can compare the effects of market volatilities on Jyske Invest and BAIGAI 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 BAIGAI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and BAIGAI.
Diversification Opportunities for Jyske Invest and BAIGAI
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Jyske and BAIGAI is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and Investeringsforeningen Bankinv in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen 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 Nye are associated (or correlated) with BAIGAI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of Jyske Invest i.e., Jyske Invest and BAIGAI go up and down completely randomly.
Pair Corralation between Jyske Invest and BAIGAI
Assuming the 90 days trading horizon Jyske Invest is expected to generate 5.61 times less return on investment than BAIGAI. But when comparing it to its historical volatility, Jyske Invest Nye is 1.92 times less risky than BAIGAI. It trades about 0.12 of its potential returns per unit of risk. Investeringsforeningen Bankinvest is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest 13,532 in Investeringsforeningen Bankinvest on September 1, 2024 and sell it today you would earn a total of 961.00 from holding Investeringsforeningen Bankinvest or generate 7.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Nye vs. Investeringsforeningen Bankinv
Performance |
| Timeline |
| Jyske Invest Nye |
| Investeringsforeningen |
Jyske Invest and BAIGAI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and BAIGAI
The main advantage of trading using opposite Jyske Invest and BAIGAI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, BAIGAI 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 BAIGAI will offset losses from the drop in BAIGAI's long position.| Jyske Invest vs. PARKEN Sport Entertainment | Jyske Invest vs. Danske Andelskassers Bank | Jyske Invest vs. Laan Spar Bank | Jyske Invest vs. Ringkjoebing Landbobank AS |
| BAIGAI vs. Sparinvest Lange | BAIGAI vs. Investeringsforeningen Danske Invest | BAIGAI vs. Sparinv SICAV | BAIGAI 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |