Correlation Between Maj Invest and Fundamental Invest
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By analyzing existing cross correlation between Maj Invest Glob and Fundamental Invest Stock, you can compare the effects of market volatilities on Maj Invest and Fundamental 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 Maj Invest with a short position of Fundamental Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maj Invest and Fundamental Invest.
Diversification Opportunities for Maj Invest and Fundamental Invest
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Maj and Fundamental is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding Maj Invest Glob and Fundamental Invest Stock in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fundamental Invest Stock and Maj Invest 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 Maj Invest Glob are associated (or correlated) with Fundamental Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fundamental Invest Stock has no effect on the direction of Maj Invest i.e., Maj Invest and Fundamental Invest go up and down completely randomly.
Pair Corralation between Maj Invest and Fundamental Invest
Assuming the 90 days trading horizon Maj Invest Glob is expected to generate 0.89 times more return on investment than Fundamental Invest. However, Maj Invest Glob is 1.13 times less risky than Fundamental Invest. It trades about 0.19 of its potential returns per unit of risk. Fundamental Invest Stock is currently generating about -0.16 per unit of risk. If you would invest 13,665 in Maj Invest Glob on August 29, 2024 and sell it today you would earn a total of 560.00 from holding Maj Invest Glob or generate 4.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maj Invest Glob vs. Fundamental Invest Stock
Performance |
| Timeline |
| Maj Invest Glob |
| Fundamental Invest Stock |
Maj Invest and Fundamental Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maj Invest and Fundamental Invest
The main advantage of trading using opposite Maj Invest and Fundamental Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maj Invest position performs unexpectedly, Fundamental 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 Fundamental Invest will offset losses from the drop in Fundamental Invest's long position.| Maj Invest vs. MapsPeople AS | Maj Invest vs. Penneo AS | Maj Invest vs. Dataproces Group AS | Maj Invest vs. Orderyoyo AS |
| Fundamental Invest vs. Novo Nordisk AS | Fundamental Invest vs. Nordea Bank Abp | Fundamental Invest vs. DSV Panalpina AS | Fundamental 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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