Correlation Between Lollands Bank and Nordea Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lollands Bank and Nordea Invest Basis, you can compare the effects of market volatilities on Lollands 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 Lollands Bank with a short position of Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lollands Bank and Nordea Invest.
Diversification Opportunities for Lollands Bank and Nordea Invest
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Lollands and Nordea is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Lollands Bank and Nordea Invest Basis in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Basis and Lollands 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 Lollands Bank 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 Basis has no effect on the direction of Lollands Bank i.e., Lollands Bank and Nordea Invest go up and down completely randomly.
Pair Corralation between Lollands Bank and Nordea Invest
Assuming the 90 days trading horizon Lollands Bank is expected to generate 4.02 times more return on investment than Nordea Invest. However, Lollands Bank is 4.02 times more volatile than Nordea Invest Basis. It trades about 0.08 of its potential returns per unit of risk. Nordea Invest Basis is currently generating about 0.2 per unit of risk. If you would invest 55,500 in Lollands Bank on September 20, 2024 and sell it today you would earn a total of 1,500 from holding Lollands Bank or generate 2.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lollands Bank vs. Nordea Invest Basis
Performance |
| Timeline |
| Lollands Bank |
| Nordea Invest Basis |
Lollands Bank and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lollands Bank and Nordea Invest
The main advantage of trading using opposite Lollands Bank and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lollands 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.| Lollands Bank vs. Skjern Bank AS | Lollands Bank vs. Kreditbanken AS | Lollands Bank vs. Djurslands Bank | Lollands Bank vs. Groenlandsbanken AS |
| Nordea Invest vs. Novo Nordisk AS | Nordea Invest vs. Nordea Bank Abp | Nordea Invest vs. DSV Panalpina AS | Nordea Invest vs. AP Mller |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stocks Directory Find actively traded stocks across global markets | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |