Correlation Between Maj Invest and HusCompagniet
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By analyzing existing cross correlation between Maj Invest Glob and HusCompagniet AS, you can compare the effects of market volatilities on Maj Invest and HusCompagniet 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 HusCompagniet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maj Invest and HusCompagniet.
Diversification Opportunities for Maj Invest and HusCompagniet
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Maj and HusCompagniet is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Maj Invest Glob and HusCompagniet AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HusCompagniet AS 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 HusCompagniet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HusCompagniet AS has no effect on the direction of Maj Invest i.e., Maj Invest and HusCompagniet go up and down completely randomly.
Pair Corralation between Maj Invest and HusCompagniet
Assuming the 90 days trading horizon Maj Invest Glob is expected to generate 0.33 times more return on investment than HusCompagniet. However, Maj Invest Glob is 3.04 times less risky than HusCompagniet. It trades about 0.03 of its potential returns per unit of risk. HusCompagniet AS is currently generating about -0.08 per unit of risk. If you would invest 14,090 in Maj Invest Glob on September 13, 2024 and sell it today you would earn a total of 50.00 from holding Maj Invest Glob or generate 0.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Maj Invest Glob vs. HusCompagniet AS
Performance |
| Timeline |
| Maj Invest Glob |
| HusCompagniet AS |
Maj Invest and HusCompagniet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maj Invest and HusCompagniet
The main advantage of trading using opposite Maj Invest and HusCompagniet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maj Invest position performs unexpectedly, HusCompagniet 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 HusCompagniet will offset losses from the drop in HusCompagniet's long position.| Maj Invest vs. Groenlandsbanken AS | Maj Invest vs. North Media AS | Maj Invest vs. Nordfyns Bank AS | Maj Invest vs. Embla Medical hf |
| HusCompagniet vs. Matas AS | HusCompagniet vs. Netcompany Group AS | HusCompagniet vs. FLSmidth Co | HusCompagniet 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 Transaction History module to view history of all your transactions and understand their impact on performance.
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