Correlation Between AP Mller and EgnsINVEST Ejendomme
Specify exactly 2 symbols:
By analyzing existing cross correlation between AP Mller and EgnsINVEST Ejendomme Tyskland, you can compare the effects of market volatilities on AP Mller and EgnsINVEST Ejendomme 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 AP Mller with a short position of EgnsINVEST Ejendomme. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and EgnsINVEST Ejendomme.
Diversification Opportunities for AP Mller and EgnsINVEST Ejendomme
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MAERSK-A and EgnsINVEST is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and EgnsINVEST Ejendomme Tyskland in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EgnsINVEST Ejendomme and AP Mller 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 AP Mller are associated (or correlated) with EgnsINVEST Ejendomme. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EgnsINVEST Ejendomme has no effect on the direction of AP Mller i.e., AP Mller and EgnsINVEST Ejendomme go up and down completely randomly.
Pair Corralation between AP Mller and EgnsINVEST Ejendomme
Assuming the 90 days trading horizon AP Mller is expected to generate 1.89 times more return on investment than EgnsINVEST Ejendomme. However, AP Mller is 1.89 times more volatile than EgnsINVEST Ejendomme Tyskland. It trades about 0.1 of its potential returns per unit of risk. EgnsINVEST Ejendomme Tyskland is currently generating about -0.04 per unit of risk. If you would invest 988,500 in AP Mller on September 12, 2024 and sell it today you would earn a total of 164,500 from holding AP Mller or generate 16.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AP Mller vs. EgnsINVEST Ejendomme Tyskland
Performance |
| Timeline |
| AP Mller |
| EgnsINVEST Ejendomme |
AP Mller and EgnsINVEST Ejendomme Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and EgnsINVEST Ejendomme
The main advantage of trading using opposite AP Mller and EgnsINVEST Ejendomme positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, EgnsINVEST Ejendomme 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 EgnsINVEST Ejendomme will offset losses from the drop in EgnsINVEST Ejendomme's long position.| AP Mller vs. AP Mller | AP Mller vs. DSV Panalpina AS | AP Mller vs. Danske Bank AS | AP Mller vs. FLSmidth Co |
| EgnsINVEST Ejendomme vs. Vestjysk Bank AS | EgnsINVEST Ejendomme vs. PARKEN Sport Entertainment | EgnsINVEST Ejendomme vs. Strategic Investments AS | EgnsINVEST Ejendomme vs. BankIn Bredygt Klimaakt |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |