Correlation Between Nordea Invest and Alefarm Brewing
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By analyzing existing cross correlation between Nordea Invest Aktier and Alefarm Brewing AS, you can compare the effects of market volatilities on Nordea Invest and Alefarm Brewing 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 Nordea Invest with a short position of Alefarm Brewing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea Invest and Alefarm Brewing.
Diversification Opportunities for Nordea Invest and Alefarm Brewing
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Nordea and Alefarm is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Nordea Invest Aktier and Alefarm Brewing AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alefarm Brewing AS and Nordea 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 Nordea Invest Aktier are associated (or correlated) with Alefarm Brewing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alefarm Brewing AS has no effect on the direction of Nordea Invest i.e., Nordea Invest and Alefarm Brewing go up and down completely randomly.
Pair Corralation between Nordea Invest and Alefarm Brewing
Assuming the 90 days trading horizon Nordea Invest Aktier is expected to generate 0.19 times more return on investment than Alefarm Brewing. However, Nordea Invest Aktier is 5.38 times less risky than Alefarm Brewing. It trades about 0.08 of its potential returns per unit of risk. Alefarm Brewing AS is currently generating about 0.0 per unit of risk. If you would invest 46,190 in Nordea Invest Aktier on October 1, 2024 and sell it today you would earn a total of 8,510 from holding Nordea Invest Aktier or generate 18.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 85.76% |
| Values | Daily Returns |
Nordea Invest Aktier vs. Alefarm Brewing AS
Performance |
| Timeline |
| Nordea Invest Aktier |
| Alefarm Brewing AS |
Nordea Invest and Alefarm Brewing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea Invest and Alefarm Brewing
The main advantage of trading using opposite Nordea Invest and Alefarm Brewing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea Invest position performs unexpectedly, Alefarm Brewing 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 Alefarm Brewing will offset losses from the drop in Alefarm Brewing's long position.| Nordea Invest vs. Strategic Investments AS | Nordea Invest vs. NTG Nordic Transport | Nordea Invest vs. Kreditbanken AS | Nordea Invest vs. Scandinavian Tobacco Group |
| Alefarm Brewing vs. Jyske Invest Virksomhedsobligationer | Alefarm Brewing vs. Handelsinvest Danske Obligationer | Alefarm Brewing vs. PARKEN Sport Entertainment | Alefarm Brewing vs. Netcompany Group 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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