Correlation Between Jyske Bank and Nordea Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jyske Bank AS and Nordea Invest Stabil, you can compare the effects of market volatilities on Jyske Bank and Nordea 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 Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Bank and Nordea Invest.
Diversification Opportunities for Jyske Bank and Nordea Invest
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jyske and Nordea is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Bank AS and Nordea Invest Stabil in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Stabil 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 Nordea Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Invest Stabil has no effect on the direction of Jyske Bank i.e., Jyske Bank and Nordea Invest go up and down completely randomly.
Pair Corralation between Jyske Bank and Nordea Invest
Assuming the 90 days trading horizon Jyske Bank is expected to generate 3.02 times less return on investment than Nordea Invest. In addition to that, Jyske Bank is 2.44 times more volatile than Nordea Invest Stabil. It trades about 0.03 of its total potential returns per unit of risk. Nordea Invest Stabil is currently generating about 0.19 per unit of volatility. If you would invest 12,935 in Nordea Invest Stabil on September 21, 2024 and sell it today you would earn a total of 95.00 from holding Nordea Invest Stabil or generate 0.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 40.91% |
| Values | Daily Returns |
Jyske Bank AS vs. Nordea Invest Stabil
Performance |
| Timeline |
| Jyske Bank AS |
| Nordea Invest Stabil |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
Jyske Bank and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Bank and Nordea Invest
The main advantage of trading using opposite Jyske Bank and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Bank position performs unexpectedly, Nordea 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 Nordea Invest will offset losses from the drop in Nordea Invest'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 |
| Nordea Invest vs. PARKEN Sport Entertainment | Nordea Invest vs. Jyske Bank AS | Nordea Invest vs. Strategic Investments AS | Nordea Invest vs. Nordfyns 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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |