Correlation Between Jyske Invest and BankInvest Virksomhedsoblig
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By analyzing existing cross correlation between Jyske Invest Virksomhedsobligationer and BankInvest Virksomhedsobligationer, you can compare the effects of market volatilities on Jyske Invest and BankInvest Virksomhedsoblig 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 BankInvest Virksomhedsoblig. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and BankInvest Virksomhedsoblig.
Diversification Opportunities for Jyske Invest and BankInvest Virksomhedsoblig
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jyske and BankInvest is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Virksomhedsobliga and BankInvest Virksomhedsobliga in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Virksomhedsoblig 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 BankInvest Virksomhedsoblig. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Virksomhedsoblig has no effect on the direction of Jyske Invest i.e., Jyske Invest and BankInvest Virksomhedsoblig go up and down completely randomly.
Pair Corralation between Jyske Invest and BankInvest Virksomhedsoblig
Assuming the 90 days trading horizon Jyske Invest is expected to generate 1.16 times less return on investment than BankInvest Virksomhedsoblig. In addition to that, Jyske Invest is 1.63 times more volatile than BankInvest Virksomhedsobligationer. It trades about 0.03 of its total potential returns per unit of risk. BankInvest Virksomhedsobligationer is currently generating about 0.06 per unit of volatility. If you would invest 13,580 in BankInvest Virksomhedsobligationer on October 25, 2024 and sell it today you would earn a total of 1,010 from holding BankInvest Virksomhedsobligationer or generate 7.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 57.45% |
| Values | Daily Returns |
Jyske Invest Virksomhedsobliga vs. BankInvest Virksomhedsobliga
Performance |
| Timeline |
| Jyske Invest Virksom |
| BankInvest Virksomhedsoblig |
Jyske Invest and BankInvest Virksomhedsoblig Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and BankInvest Virksomhedsoblig
The main advantage of trading using opposite Jyske Invest and BankInvest Virksomhedsoblig positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, BankInvest Virksomhedsoblig 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 BankInvest Virksomhedsoblig will offset losses from the drop in BankInvest Virksomhedsoblig's long position.| Jyske Invest vs. Prime Office AS | Jyske Invest vs. Scandinavian Investment Group | Jyske Invest vs. Nordfyns Bank AS | Jyske Invest vs. PARKEN Sport Entertainment |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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