Correlation Between Jyske Invest and Sparinv SICAV
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jyske Invest Nye 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
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jyske and Sparinv is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye 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 Nye 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 1.39 times less return on investment than Sparinv SICAV. In addition to that, Jyske Invest is 1.22 times more volatile than Sparinv SICAV. It trades about 0.18 of its total potential returns per unit of risk. Sparinv SICAV is currently generating about 0.3 per unit of volatility. If you would invest 18,495 in Sparinv SICAV on September 13, 2024 and sell it today you would earn a total of 380.00 from holding Sparinv SICAV or generate 2.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Nye vs. Sparinv SICAV
Performance |
| Timeline |
| Jyske Invest Nye |
| 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. Jyske Bank AS | Jyske Invest vs. Skjern Bank AS | Jyske Invest vs. Groenlandsbanken AS | Jyske Invest vs. Prime Office AS |
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
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |