Correlation Between Jyske Bank and Jyske Invest
Can any of the company-specific risk be diversified away by investing in both Jyske Bank and Jyske Invest at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Jyske Bank and Jyske Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jyske Bank AS and Jyske Invest Korte, you can compare the effects of market volatilities on Jyske Bank and Jyske Invest 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 Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Bank and Jyske Invest.
Diversification Opportunities for Jyske Bank and Jyske Invest
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jyske and Jyske is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Bank AS and Jyske Invest Korte in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Korte 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 Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Korte has no effect on the direction of Jyske Bank i.e., Jyske Bank and Jyske Invest go up and down completely randomly.
Pair Corralation between Jyske Bank and Jyske Invest
Assuming the 90 days trading horizon Jyske Bank is expected to generate 3.49 times less return on investment than Jyske Invest. In addition to that, Jyske Bank is 17.95 times more volatile than Jyske Invest Korte. It trades about 0.0 of its total potential returns per unit of risk. Jyske Invest Korte is currently generating about 0.22 per unit of volatility. If you would invest 8,988 in Jyske Invest Korte on August 31, 2024 and sell it today you would earn a total of 624.00 from holding Jyske Invest Korte or generate 6.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.74% |
| Values | Daily Returns |
Jyske Bank AS vs. Jyske Invest Korte
Performance |
| Timeline |
| Jyske Bank AS |
| Jyske Invest Korte |
Jyske Bank and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Bank and Jyske Invest
The main advantage of trading using opposite Jyske Bank and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Bank position performs unexpectedly, Jyske Invest 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 Jyske Invest will offset losses from the drop in Jyske Invest's long position.| Jyske Bank vs. Skjern Bank AS | Jyske Bank vs. Carnegie Wealth Management | Jyske Bank vs. Lollands Bank | Jyske Bank vs. Danske Andelskassers Bank |
| Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. BankIn Bredygt Klimaakt | Jyske Invest vs. Kreditbanken AS | Jyske Invest vs. BankInvest Value Globale |
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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