Correlation Between Jyske Invest and Sydbank AS
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By analyzing existing cross correlation between Jyske Invest Nye and Sydbank AS, you can compare the effects of market volatilities on Jyske Invest and Sydbank AS 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 Sydbank AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Sydbank AS.
Diversification Opportunities for Jyske Invest and Sydbank AS
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jyske and Sydbank is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and Sydbank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sydbank AS 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 Sydbank AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sydbank AS has no effect on the direction of Jyske Invest i.e., Jyske Invest and Sydbank AS go up and down completely randomly.
Pair Corralation between Jyske Invest and Sydbank AS
Assuming the 90 days trading horizon Jyske Invest Nye is expected to under-perform the Sydbank AS. But the stock apears to be less risky and, when comparing its historical volatility, Jyske Invest Nye is 1.43 times less risky than Sydbank AS. The stock trades about -0.06 of its potential returns per unit of risk. The Sydbank AS is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 33,100 in Sydbank AS on August 26, 2024 and sell it today you would earn a total of 2,180 from holding Sydbank AS or generate 6.59% 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. Sydbank AS
Performance |
| Timeline |
| Jyske Invest Nye |
| Sydbank AS |
Jyske Invest and Sydbank AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Sydbank AS
The main advantage of trading using opposite Jyske Invest and Sydbank AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Sydbank AS 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 Sydbank AS will offset losses from the drop in Sydbank AS's long position.| Jyske Invest vs. Sydbank AS | Jyske Invest vs. North Media AS | Jyske Invest vs. Nordinvestments AS | Jyske Invest vs. TROPHY GAMES Development |
| Sydbank AS vs. Jyske Bank AS | Sydbank AS vs. Tryg AS | Sydbank AS vs. FLSmidth Co | Sydbank AS vs. Nordea Bank Abp |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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