Correlation Between Jyske Invest and Sparinvest Lange
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By analyzing existing cross correlation between Jyske Invest Nye and Sparinvest Lange, you can compare the effects of market volatilities on Jyske Invest and Sparinvest 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 Sparinvest Lange. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Sparinvest Lange.
Diversification Opportunities for Jyske Invest and Sparinvest Lange
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jyske and Sparinvest is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and Sparinvest Lange in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinvest Lange 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 Sparinvest Lange. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinvest Lange has no effect on the direction of Jyske Invest i.e., Jyske Invest and Sparinvest Lange go up and down completely randomly.
Pair Corralation between Jyske Invest and Sparinvest Lange
Assuming the 90 days trading horizon Jyske Invest Nye is expected to generate 1.34 times more return on investment than Sparinvest Lange. However, Jyske Invest is 1.34 times more volatile than Sparinvest Lange. It trades about 0.16 of its potential returns per unit of risk. Sparinvest Lange is currently generating about 0.09 per unit of risk. If you would invest 9,884 in Jyske Invest Nye on November 18, 2024 and sell it today you would earn a total of 121.00 from holding Jyske Invest Nye or generate 1.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Jyske Invest Nye vs. Sparinvest Lange
Performance |
| Timeline |
| Jyske Invest Nye |
| Sparinvest Lange |
Jyske Invest and Sparinvest Lange Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Sparinvest Lange
The main advantage of trading using opposite Jyske Invest and Sparinvest Lange positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Sparinvest 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 Sparinvest Lange will offset losses from the drop in Sparinvest Lange's long position.| Jyske Invest vs. Sydbank AS | Jyske Invest vs. Ringkjoebing Landbobank AS | Jyske Invest vs. Danske Andelskassers Bank | Jyske Invest vs. BankInvest Value Globale |
| Sparinvest Lange vs. Jyske Invest Nye | Sparinvest Lange vs. Jyske Invest Korte | Sparinvest Lange vs. Jyske Invest Nye | Sparinvest Lange 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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