Correlation Between Jyske Bank and Overseas Chinese
Can any of the company-specific risk be diversified away by investing in both Jyske Bank and Overseas Chinese 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 Overseas Chinese 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 Overseas Chinese Banking, you can compare the effects of market volatilities on Jyske Bank and Overseas Chinese 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 Overseas Chinese. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Bank and Overseas Chinese.
Diversification Opportunities for Jyske Bank and Overseas Chinese
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jyske and Overseas is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Bank AS and Overseas Chinese Banking in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Overseas Chinese Banking 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 Overseas Chinese. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Overseas Chinese Banking has no effect on the direction of Jyske Bank i.e., Jyske Bank and Overseas Chinese go up and down completely randomly.
Pair Corralation between Jyske Bank and Overseas Chinese
If you would invest 2,401 in Overseas Chinese Banking on November 2, 2024 and sell it today you would earn a total of 162.00 from holding Overseas Chinese Banking or generate 6.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Jyske Bank AS vs. Overseas Chinese Banking
Performance |
| Timeline |
| Jyske Bank AS |
| Overseas Chinese Banking |
Jyske Bank and Overseas Chinese Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Bank and Overseas Chinese
The main advantage of trading using opposite Jyske Bank and Overseas Chinese positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Bank position performs unexpectedly, Overseas Chinese 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 Overseas Chinese will offset losses from the drop in Overseas Chinese's long position.| Jyske Bank vs. Baraboo Bancorporation | Jyske Bank vs. Schweizerische Nationalbank | Jyske Bank vs. Danske Bank AS | Jyske Bank vs. Absa Group Limited |
| Overseas Chinese vs. Swedbank AB | Overseas Chinese vs. KBC Groep NV | Overseas Chinese vs. Nordea Bank Abp | Overseas Chinese vs. DBS Group Holdings |
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.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Global Correlations Find global opportunities by holding instruments from different markets |