Correlation Between Jyske Invest and Alefarm Brewing
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By analyzing existing cross correlation between Jyske Invest Virksomhedsobligationer and Alefarm Brewing AS, you can compare the effects of market volatilities on Jyske Invest and Alefarm Brewing 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 Alefarm Brewing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Alefarm Brewing.
Diversification Opportunities for Jyske Invest and Alefarm Brewing
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jyske and Alefarm is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Virksomhedsobliga and Alefarm Brewing AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alefarm Brewing 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 Virksomhedsobligationer are associated (or correlated) with Alefarm Brewing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alefarm Brewing AS has no effect on the direction of Jyske Invest i.e., Jyske Invest and Alefarm Brewing go up and down completely randomly.
Pair Corralation between Jyske Invest and Alefarm Brewing
Assuming the 90 days trading horizon Jyske Invest is expected to generate 1.61 times less return on investment than Alefarm Brewing. But when comparing it to its historical volatility, Jyske Invest Virksomhedsobligationer is 10.52 times less risky than Alefarm Brewing. It trades about 0.03 of its potential returns per unit of risk. Alefarm Brewing AS is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 179.00 in Alefarm Brewing AS on September 1, 2024 and sell it today you would lose (36.00) from holding Alefarm Brewing AS or give up 20.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 86.67% |
| Values | Daily Returns |
Jyske Invest Virksomhedsobliga vs. Alefarm Brewing AS
Performance |
| Timeline |
| Jyske Invest Virksom |
| Alefarm Brewing AS |
Jyske Invest and Alefarm Brewing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Alefarm Brewing
The main advantage of trading using opposite Jyske Invest and Alefarm Brewing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Alefarm Brewing 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 Alefarm Brewing will offset losses from the drop in Alefarm Brewing's long position.| Jyske Invest vs. Strategic Investments AS | Jyske Invest vs. TROPHY GAMES Development | Jyske Invest vs. Dataproces Group AS | Jyske Invest vs. Spar Nord Bank |
| Alefarm Brewing vs. North Media AS | Alefarm Brewing vs. Nordinvestments AS | Alefarm Brewing vs. Groenlandsbanken AS | Alefarm Brewing vs. Prime Office AS |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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