Correlation Between Jyske Invest and Sparinvest SICAV
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By analyzing existing cross correlation between Jyske Invest Nye and Sparinvest SICAV Procedo, you can compare the effects of market volatilities on Jyske Invest and Sparinvest 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 Sparinvest SICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Sparinvest SICAV.
Diversification Opportunities for Jyske Invest and Sparinvest SICAV
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jyske and Sparinvest is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and Sparinvest SICAV Procedo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinvest SICAV Procedo 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 SICAV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinvest SICAV Procedo has no effect on the direction of Jyske Invest i.e., Jyske Invest and Sparinvest SICAV go up and down completely randomly.
Pair Corralation between Jyske Invest and Sparinvest SICAV
Assuming the 90 days trading horizon Jyske Invest is expected to generate 3.42 times less return on investment than Sparinvest SICAV. But when comparing it to its historical volatility, Jyske Invest Nye is 1.36 times less risky than Sparinvest SICAV. It trades about 0.04 of its potential returns per unit of risk. Sparinvest SICAV Procedo is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 24,690 in Sparinvest SICAV Procedo on September 1, 2024 and sell it today you would earn a total of 2,260 from holding Sparinvest SICAV Procedo or generate 9.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.94% |
| Values | Daily Returns |
Jyske Invest Nye vs. Sparinvest SICAV Procedo
Performance |
| Timeline |
| Jyske Invest Nye |
| Sparinvest SICAV Procedo |
Jyske Invest and Sparinvest SICAV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Sparinvest SICAV
The main advantage of trading using opposite Jyske Invest and Sparinvest SICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Sparinvest 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 Sparinvest SICAV will offset losses from the drop in Sparinvest SICAV'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 |
| Sparinvest SICAV vs. Jyske Invest Nye | Sparinvest SICAV vs. Jyske Invest Korte | Sparinvest SICAV vs. Jyske Invest Nye | Sparinvest SICAV 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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