Correlation Between Kreditbanken and Handelsinvest Danske
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By analyzing existing cross correlation between Kreditbanken AS and Handelsinvest Danske Obligationer, you can compare the effects of market volatilities on Kreditbanken and Handelsinvest Danske 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 Kreditbanken with a short position of Handelsinvest Danske. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kreditbanken and Handelsinvest Danske.
Diversification Opportunities for Kreditbanken and Handelsinvest Danske
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kreditbanken and Handelsinvest is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Kreditbanken AS and Handelsinvest Danske Obligatio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Handelsinvest Danske and Kreditbanken 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 Kreditbanken AS are associated (or correlated) with Handelsinvest Danske. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Handelsinvest Danske has no effect on the direction of Kreditbanken i.e., Kreditbanken and Handelsinvest Danske go up and down completely randomly.
Pair Corralation between Kreditbanken and Handelsinvest Danske
Assuming the 90 days trading horizon Kreditbanken AS is expected to generate 8.9 times more return on investment than Handelsinvest Danske. However, Kreditbanken is 8.9 times more volatile than Handelsinvest Danske Obligationer. It trades about 0.12 of its potential returns per unit of risk. Handelsinvest Danske Obligationer is currently generating about -0.19 per unit of risk. If you would invest 515,000 in Kreditbanken AS on October 29, 2024 and sell it today you would earn a total of 15,000 from holding Kreditbanken AS or generate 2.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kreditbanken AS vs. Handelsinvest Danske Obligatio
Performance |
| Timeline |
| Kreditbanken AS |
| Handelsinvest Danske |
Kreditbanken and Handelsinvest Danske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kreditbanken and Handelsinvest Danske
The main advantage of trading using opposite Kreditbanken and Handelsinvest Danske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kreditbanken position performs unexpectedly, Handelsinvest Danske 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 Handelsinvest Danske will offset losses from the drop in Handelsinvest Danske's long position.| Kreditbanken vs. Lollands Bank | Kreditbanken vs. Groenlandsbanken AS | Kreditbanken vs. Skjern Bank AS | Kreditbanken vs. Djurslands Bank |
| Handelsinvest Danske vs. Kreditbanken AS | Handelsinvest Danske vs. PARKEN Sport Entertainment | Handelsinvest Danske vs. Nordinvestments AS | Handelsinvest Danske vs. Scandinavian Medical Solutions |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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