Correlation Between Jyske Bank and Southeastern Banking
Can any of the company-specific risk be diversified away by investing in both Jyske Bank and Southeastern Banking 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 Southeastern Banking 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 Southeastern Banking Corp, you can compare the effects of market volatilities on Jyske Bank and Southeastern Banking 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 Southeastern Banking. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Bank and Southeastern Banking.
Diversification Opportunities for Jyske Bank and Southeastern Banking
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jyske and Southeastern is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Bank AS and Southeastern Banking Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southeastern Banking Corp 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 Southeastern Banking. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southeastern Banking Corp has no effect on the direction of Jyske Bank i.e., Jyske Bank and Southeastern Banking go up and down completely randomly.
Pair Corralation between Jyske Bank and Southeastern Banking
If you would invest 2,175 in Southeastern Banking Corp on September 1, 2024 and sell it today you would earn a total of 199.00 from holding Southeastern Banking Corp or generate 9.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jyske Bank AS vs. Southeastern Banking Corp
Performance |
| Timeline |
| Jyske Bank AS |
| Southeastern Banking Corp |
Jyske Bank and Southeastern Banking Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jyske Bank and Southeastern Banking
The main advantage of trading using opposite Jyske Bank and Southeastern Banking positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Bank position performs unexpectedly, Southeastern Banking 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 Southeastern Banking will offset losses from the drop in Southeastern Banking'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 |
| Southeastern Banking vs. Zions Bancorporation | Southeastern Banking vs. Huntington Bancshares Incorporated | Southeastern Banking vs. Comerica | Southeastern Banking vs. Western Alliance Bancorporation |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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