Correlation Between AP Mller and Handelsinvest Danske
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By analyzing existing cross correlation between AP Mller and Handelsinvest Danske Obligationer, you can compare the effects of market volatilities on AP Mller 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 AP Mller with a short position of Handelsinvest Danske. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Handelsinvest Danske.
Diversification Opportunities for AP Mller and Handelsinvest Danske
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between MAERSK-A and Handelsinvest is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Handelsinvest Danske Obligatio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Handelsinvest Danske 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 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 AP Mller i.e., AP Mller and Handelsinvest Danske go up and down completely randomly.
Pair Corralation between AP Mller and Handelsinvest Danske
Assuming the 90 days trading horizon AP Mller is expected to generate 20.09 times more return on investment than Handelsinvest Danske. However, AP Mller is 20.09 times more volatile than Handelsinvest Danske Obligationer. It trades about 0.52 of its potential returns per unit of risk. Handelsinvest Danske Obligationer is currently generating about 0.24 per unit of risk. If you would invest 920,794 in AP Mller on November 28, 2024 and sell it today you would earn a total of 357,206 from holding AP Mller or generate 38.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AP Mller vs. Handelsinvest Danske Obligatio
Performance |
| Timeline |
| AP Mller |
| Handelsinvest Danske |
AP Mller and Handelsinvest Danske Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Handelsinvest Danske
The main advantage of trading using opposite AP Mller and Handelsinvest Danske positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller 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.| AP Mller vs. AP Mller | AP Mller vs. DSV Panalpina AS | AP Mller vs. Danske Bank AS | AP Mller vs. FLSmidth Co |
| Handelsinvest Danske vs. Lollands Bank | Handelsinvest Danske vs. Danske Andelskassers Bank | Handelsinvest Danske vs. Scandinavian Tobacco Group | Handelsinvest Danske vs. Jyske Bank AS |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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