Correlation Between Jyske Invest and DKIDKA
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By analyzing existing cross correlation between Jyske Invest Nye and Investeringsforeningen Danske Invest, you can compare the effects of market volatilities on Jyske Invest and DKIDKA 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 DKIDKA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and DKIDKA.
Diversification Opportunities for Jyske Invest and DKIDKA
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jyske and DKIDKA is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and Investeringsforeningen Danske 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 DKIDKA. 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 DKIDKA go up and down completely randomly.
Pair Corralation between Jyske Invest and DKIDKA
Assuming the 90 days trading horizon Jyske Invest Nye is expected to under-perform the DKIDKA. In addition to that, Jyske Invest is 1.8 times more volatile than Investeringsforeningen Danske Invest. It trades about -0.11 of its total potential returns per unit of risk. Investeringsforeningen Danske Invest is currently generating about -0.13 per unit of volatility. If you would invest 117,960 in Investeringsforeningen Danske Invest on November 3, 2024 and sell it today you would lose (2,129) from holding Investeringsforeningen Danske Invest or give up 1.8% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Jyske Invest Nye vs. Investeringsforeningen Danske
Performance |
| Timeline |
| Jyske Invest Nye |
| Investeringsforeningen |
Jyske Invest and DKIDKA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and DKIDKA
The main advantage of trading using opposite Jyske Invest and DKIDKA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, DKIDKA 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 DKIDKA will offset losses from the drop in DKIDKA's long position.| Jyske Invest vs. Prime Office AS | Jyske Invest vs. Groenlandsbanken AS | Jyske Invest vs. Kreditbanken AS | Jyske Invest vs. NTG Nordic Transport |
| DKIDKA vs. Sparinvest Lange | DKIDKA vs. Investeringsforeningen Danske Invest | DKIDKA vs. Sparinv SICAV | DKIDKA 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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