Correlation Between Jyske Invest and Nordea Bank
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By analyzing existing cross correlation between Jyske Invest Virksomhedsobligationer and Nordea Bank Abp, you can compare the effects of market volatilities on Jyske Invest and Nordea Bank 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 Nordea Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Nordea Bank.
Diversification Opportunities for Jyske Invest and Nordea Bank
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Jyske and Nordea is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Virksomhedsobliga and Nordea Bank Abp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Bank Abp 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 Nordea Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Bank Abp has no effect on the direction of Jyske Invest i.e., Jyske Invest and Nordea Bank go up and down completely randomly.
Pair Corralation between Jyske Invest and Nordea Bank
Assuming the 90 days trading horizon Jyske Invest Virksomhedsobligationer is expected to generate 0.34 times more return on investment than Nordea Bank. However, Jyske Invest Virksomhedsobligationer is 2.96 times less risky than Nordea Bank. It trades about 0.13 of its potential returns per unit of risk. Nordea Bank Abp is currently generating about -0.15 per unit of risk. If you would invest 9,334 in Jyske Invest Virksomhedsobligationer on September 2, 2024 and sell it today you would earn a total of 82.00 from holding Jyske Invest Virksomhedsobligationer or generate 0.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Invest Virksomhedsobliga vs. Nordea Bank Abp
Performance |
| Timeline |
| Jyske Invest Virksom |
| Nordea Bank Abp |
Jyske Invest and Nordea Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Invest and Nordea Bank
The main advantage of trading using opposite Jyske Invest and Nordea Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Nordea Bank 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 Nordea Bank will offset losses from the drop in Nordea Bank's long position.| Jyske Invest vs. Skjern Bank AS | Jyske Invest vs. Scandinavian Tobacco Group | Jyske Invest vs. Groenlandsbanken AS | Jyske Invest vs. Jyske Bank AS |
| Nordea Bank vs. Jyske Bank AS | Nordea Bank vs. Tryg AS | Nordea Bank vs. Danske Bank AS | Nordea Bank vs. ISS 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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