Correlation Between AP Mller and Glunz Jensen
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By analyzing existing cross correlation between AP Mller and Glunz Jensen, you can compare the effects of market volatilities on AP Mller and Glunz Jensen 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 Glunz Jensen. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Glunz Jensen.
Diversification Opportunities for AP Mller and Glunz Jensen
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between MAERSK-B and Glunz is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Glunz Jensen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Glunz Jensen 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 Glunz Jensen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Glunz Jensen has no effect on the direction of AP Mller i.e., AP Mller and Glunz Jensen go up and down completely randomly.
Pair Corralation between AP Mller and Glunz Jensen
Assuming the 90 days trading horizon AP Mller is expected to generate 1.39 times more return on investment than Glunz Jensen. However, AP Mller is 1.39 times more volatile than Glunz Jensen. It trades about 0.02 of its potential returns per unit of risk. Glunz Jensen is currently generating about 0.01 per unit of risk. If you would invest 1,072,954 in AP Mller on September 1, 2024 and sell it today you would earn a total of 124,546 from holding AP Mller or generate 11.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.78% |
| Values | Daily Returns |
AP Mller vs. Glunz Jensen
Performance |
| Timeline |
| AP Mller |
| Glunz Jensen |
AP Mller and Glunz Jensen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Glunz Jensen
The main advantage of trading using opposite AP Mller and Glunz Jensen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, Glunz Jensen 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 Glunz Jensen will offset losses from the drop in Glunz Jensen's long position.| AP Mller vs. Danske Bank AS | AP Mller vs. DSV Panalpina AS | AP Mller vs. AP Mller | AP Mller vs. Vestas Wind Systems |
| Glunz Jensen vs. First Farms AS | Glunz Jensen vs. SKAKO AS | Glunz Jensen vs. Rovsing AS | Glunz Jensen vs. Roblon 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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