Correlation Between Jyske Invest and Handelsinvest Danmark
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By analyzing existing cross correlation between Jyske Invest Nye and Handelsinvest Danmark, you can compare the effects of market volatilities on Jyske Invest and Handelsinvest Danmark 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 Handelsinvest Danmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Handelsinvest Danmark.
Diversification Opportunities for Jyske Invest and Handelsinvest Danmark
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jyske and Handelsinvest is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and Handelsinvest Danmark in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Handelsinvest Danmark 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 Handelsinvest Danmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Handelsinvest Danmark has no effect on the direction of Jyske Invest i.e., Jyske Invest and Handelsinvest Danmark go up and down completely randomly.
Pair Corralation between Jyske Invest and Handelsinvest Danmark
Assuming the 90 days trading horizon Jyske Invest Nye is expected to under-perform the Handelsinvest Danmark. But the stock apears to be less risky and, when comparing its historical volatility, Jyske Invest Nye is 1.03 times less risky than Handelsinvest Danmark. The stock trades about -0.08 of its potential returns per unit of risk. The Handelsinvest Danmark is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 41,063 in Handelsinvest Danmark on November 19, 2024 and sell it today you would lose (2,374) from holding Handelsinvest Danmark or give up 5.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 6.3% |
| Values | Daily Returns |
Jyske Invest Nye vs. Handelsinvest Danmark
Performance |
| Timeline |
| Jyske Invest Nye |
| Handelsinvest Danmark |
Jyske Invest and Handelsinvest Danmark Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Handelsinvest Danmark
The main advantage of trading using opposite Jyske Invest and Handelsinvest Danmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Handelsinvest Danmark 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 Handelsinvest Danmark will offset losses from the drop in Handelsinvest Danmark's long position.| Jyske Invest vs. Netcompany Group AS | Jyske Invest vs. cBrain AS | Jyske Invest vs. ALK Abell AS | Jyske Invest vs. Green Hydrogen Systems |
| Handelsinvest Danmark vs. Sparinvest Lange | Handelsinvest Danmark vs. Investeringsforeningen Danske Invest | Handelsinvest Danmark vs. Sparinv SICAV |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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