Correlation Between Jyske Bank and AP Mller
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By analyzing existing cross correlation between Jyske Bank AS and AP Mller , you can compare the effects of market volatilities on Jyske Bank and AP Mller 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 AP Mller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Bank and AP Mller.
Diversification Opportunities for Jyske Bank and AP Mller
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jyske and MAERSK-A is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Bank AS and AP Mller in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AP Mller 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 AP Mller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AP Mller has no effect on the direction of Jyske Bank i.e., Jyske Bank and AP Mller go up and down completely randomly.
Pair Corralation between Jyske Bank and AP Mller
Assuming the 90 days trading horizon Jyske Bank is expected to generate 1.22 times less return on investment than AP Mller. But when comparing it to its historical volatility, Jyske Bank AS is 1.55 times less risky than AP Mller. It trades about 0.03 of its potential returns per unit of risk. AP Mller is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 983,632 in AP Mller on August 28, 2024 and sell it today you would earn a total of 139,368 from holding AP Mller or generate 14.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Bank AS vs. AP Mller
Performance |
| Timeline |
| Jyske Bank AS |
| AP Mller |
Jyske Bank and AP Mller Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Bank and AP Mller
The main advantage of trading using opposite Jyske Bank and AP Mller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Bank position performs unexpectedly, AP Mller 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 AP Mller will offset losses from the drop in AP Mller's long position.| Jyske Bank vs. Dataproces Group AS | Jyske Bank vs. cBrain AS | Jyske Bank vs. ALK Abell AS | Jyske Bank vs. ChemoMetec AS |
| AP Mller vs. AP Mller | AP Mller vs. DSV Panalpina AS | AP Mller vs. Danske Bank AS | AP Mller vs. FLSmidth Co |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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