Correlation Between Jyske Bank and DKINMAKK
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By analyzing existing cross correlation between Jyske Bank AS and Investeringsforeningen Danske Invest, you can compare the effects of market volatilities on Jyske Bank and DKINMAKK 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 Bank with a short position of DKINMAKK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Bank and DKINMAKK.
Diversification Opportunities for Jyske Bank and DKINMAKK
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jyske and DKINMAKK is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Bank AS and Investeringsforeningen Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen and Jyske Bank 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 Bank AS are associated (or correlated) with DKINMAKK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of Jyske Bank i.e., Jyske Bank and DKINMAKK go up and down completely randomly.
Pair Corralation between Jyske Bank and DKINMAKK
Assuming the 90 days trading horizon Jyske Bank AS is expected to generate 1.35 times more return on investment than DKINMAKK. However, Jyske Bank is 1.35 times more volatile than Investeringsforeningen Danske Invest. It trades about 0.21 of its potential returns per unit of risk. Investeringsforeningen Danske Invest is currently generating about 0.08 per unit of risk. If you would invest 48,420 in Jyske Bank AS on September 13, 2024 and sell it today you would earn a total of 1,930 from holding Jyske Bank AS or generate 3.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Bank AS vs. Investeringsforeningen Danske
Performance |
| Timeline |
| Jyske Bank AS |
| Investeringsforeningen |
Jyske Bank and DKINMAKK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Bank and DKINMAKK
The main advantage of trading using opposite Jyske Bank and DKINMAKK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Bank position performs unexpectedly, DKINMAKK 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 DKINMAKK will offset losses from the drop in DKINMAKK's long position.| Jyske Bank vs. FLSmidth Co | Jyske Bank vs. Danske Bank AS | Jyske Bank vs. ISS AS | Jyske Bank vs. DSV Panalpina AS |
| DKINMAKK vs. Jyske Bank AS | DKINMAKK vs. Scandinavian Medical Solutions | DKINMAKK vs. Hvidbjerg Bank | DKINMAKK vs. Vestjysk Bank 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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