Correlation Between Maj Invest and Skjern Bank
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By analyzing existing cross correlation between Maj Invest Glob and Skjern Bank AS, you can compare the effects of market volatilities on Maj Invest and Skjern Bank 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 Skjern Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maj Invest and Skjern Bank.
Diversification Opportunities for Maj Invest and Skjern Bank
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Maj and Skjern is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Maj Invest Glob and Skjern Bank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Skjern Bank 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 Skjern Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Skjern Bank AS has no effect on the direction of Maj Invest i.e., Maj Invest and Skjern Bank go up and down completely randomly.
Pair Corralation between Maj Invest and Skjern Bank
Assuming the 90 days trading horizon Maj Invest Glob is expected to generate 0.86 times more return on investment than Skjern Bank. However, Maj Invest Glob is 1.16 times less risky than Skjern Bank. It trades about 0.19 of its potential returns per unit of risk. Skjern Bank AS is currently generating about -0.3 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. Skjern Bank AS
Performance |
| Timeline |
| Maj Invest Glob |
| Skjern Bank AS |
Maj Invest and Skjern Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maj Invest and Skjern Bank
The main advantage of trading using opposite Maj Invest and Skjern Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maj Invest position performs unexpectedly, Skjern Bank 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 Skjern Bank will offset losses from the drop in Skjern Bank's long position.| Maj Invest vs. MapsPeople AS | Maj Invest vs. Penneo AS | Maj Invest vs. Dataproces Group AS | Maj Invest vs. Orderyoyo AS |
| Skjern Bank vs. Dataproces Group AS | Skjern Bank vs. cBrain AS | Skjern Bank vs. ALK Abell AS | Skjern Bank vs. ChemoMetec 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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