Correlation Between AP Mller and Jyske Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between AP Mller and Jyske Invest Lange, you can compare the effects of market volatilities on AP Mller and Jyske 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 AP Mller with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Jyske Invest.
Diversification Opportunities for AP Mller and Jyske Invest
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between MAERSK-A and Jyske is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Jyske Invest Lange in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Lange 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 Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Lange has no effect on the direction of AP Mller i.e., AP Mller and Jyske Invest go up and down completely randomly.
Pair Corralation between AP Mller and Jyske Invest
Assuming the 90 days trading horizon AP Mller is expected to generate 8.04 times more return on investment than Jyske Invest. However, AP Mller is 8.04 times more volatile than Jyske Invest Lange. It trades about 0.13 of its potential returns per unit of risk. Jyske Invest Lange is currently generating about 0.2 per unit of risk. If you would invest 959,000 in AP Mller on September 3, 2024 and sell it today you would earn a total of 198,000 from holding AP Mller or generate 20.65% 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. Jyske Invest Lange
Performance |
| Timeline |
| AP Mller |
| Jyske Invest Lange |
AP Mller and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Jyske Invest
The main advantage of trading using opposite AP Mller and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, Jyske 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 Jyske Invest will offset losses from the drop in Jyske Invest'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 |
| Jyske Invest vs. Novo Nordisk AS | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. DSV Panalpina AS | Jyske 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |