Correlation Between Nordea Invest and Lollands Bank
Specify exactly 2 symbols:
By analyzing existing cross correlation between Nordea Invest Basis and Lollands Bank, you can compare the effects of market volatilities on Nordea Invest and Lollands 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 Nordea Invest with a short position of Lollands Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea Invest and Lollands Bank.
Diversification Opportunities for Nordea Invest and Lollands Bank
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Nordea and Lollands is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Nordea Invest Basis and Lollands Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lollands Bank 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 Basis are associated (or correlated) with Lollands Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lollands Bank has no effect on the direction of Nordea Invest i.e., Nordea Invest and Lollands Bank go up and down completely randomly.
Pair Corralation between Nordea Invest and Lollands Bank
Assuming the 90 days trading horizon Nordea Invest Basis is expected to generate 0.34 times more return on investment than Lollands Bank. However, Nordea Invest Basis is 2.95 times less risky than Lollands Bank. It trades about 0.09 of its potential returns per unit of risk. Lollands Bank is currently generating about 0.01 per unit of risk. If you would invest 15,365 in Nordea Invest Basis on September 19, 2024 and sell it today you would earn a total of 2,260 from holding Nordea Invest Basis or generate 14.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nordea Invest Basis vs. Lollands Bank
Performance |
| Timeline |
| Nordea Invest Basis |
| Lollands Bank |
Nordea Invest and Lollands Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea Invest and Lollands Bank
The main advantage of trading using opposite Nordea Invest and Lollands Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea Invest position performs unexpectedly, Lollands 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 Lollands Bank will offset losses from the drop in Lollands Bank's long position.| Nordea Invest vs. Novo Nordisk AS | Nordea Invest vs. Nordea Bank Abp | Nordea Invest vs. DSV Panalpina AS | Nordea Invest vs. AP Mller |
| Lollands Bank vs. Skjern Bank AS | Lollands Bank vs. Kreditbanken AS | Lollands Bank vs. Djurslands Bank | Lollands Bank vs. Groenlandsbanken 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |