Correlation Between Jyske Invest and BankInvest Danske
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jyske Invest Nye and BankInvest Danske, you can compare the effects of market volatilities on Jyske Invest and BankInvest Danske 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 BankInvest Danske. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and BankInvest Danske.
Diversification Opportunities for Jyske Invest and BankInvest Danske
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jyske and BankInvest is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and BankInvest Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Danske 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 BankInvest Danske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Danske has no effect on the direction of Jyske Invest i.e., Jyske Invest and BankInvest Danske go up and down completely randomly.
Pair Corralation between Jyske Invest and BankInvest Danske
Assuming the 90 days trading horizon Jyske Invest Nye is expected to generate 0.4 times more return on investment than BankInvest Danske. However, Jyske Invest Nye is 2.49 times less risky than BankInvest Danske. It trades about 0.09 of its potential returns per unit of risk. BankInvest Danske is currently generating about -0.01 per unit of risk. If you would invest 11,420 in Jyske Invest Nye on September 5, 2024 and sell it today you would earn a total of 220.00 from holding Jyske Invest Nye or generate 1.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Nye vs. BankInvest Danske
Performance |
| Timeline |
| Jyske Invest Nye |
| BankInvest Danske |
Jyske Invest and BankInvest Danske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and BankInvest Danske
The main advantage of trading using opposite Jyske Invest and BankInvest Danske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, BankInvest Danske 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 BankInvest Danske will offset losses from the drop in BankInvest Danske'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 |
| BankInvest Danske vs. Jyske Invest Nye | BankInvest Danske vs. Jyske Invest Korte | BankInvest Danske vs. Jyske Invest Nye | BankInvest Danske 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |