Correlation Between AP Mller and Genmab AS
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By analyzing existing cross correlation between AP Mller and Genmab AS, you can compare the effects of market volatilities on AP Mller and Genmab AS 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 Genmab AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of AP Mller and Genmab AS.
Diversification Opportunities for AP Mller and Genmab AS
Very good diversification
The 3 months correlation between MAERSK-B and Genmab is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding AP Mller and Genmab AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genmab AS 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 Genmab AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genmab AS has no effect on the direction of AP Mller i.e., AP Mller and Genmab AS go up and down completely randomly.
Pair Corralation between AP Mller and Genmab AS
Assuming the 90 days trading horizon AP Mller is expected to under-perform the Genmab AS. In addition to that, AP Mller is 1.27 times more volatile than Genmab AS. It trades about -0.22 of its total potential returns per unit of risk. Genmab AS is currently generating about 0.11 per unit of volatility. If you would invest 145,400 in Genmab AS on October 20, 2024 and sell it today you would earn a total of 5,550 from holding Genmab AS or generate 3.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AP Mller vs. Genmab AS
Performance |
| Timeline |
| AP Mller |
| Genmab AS |
AP Mller and Genmab AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AP Mller and Genmab AS
The main advantage of trading using opposite AP Mller and Genmab AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AP Mller position performs unexpectedly, Genmab AS 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 Genmab AS will offset losses from the drop in Genmab AS'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 |
| Genmab AS vs. Ambu AS | Genmab AS vs. DSV Panalpina AS | Genmab AS vs. Bavarian Nordic | Genmab AS vs. GN Store Nord |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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