Correlation Between Nordea Invest and Fast Ejendom
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By analyzing existing cross correlation between Nordea Invest Global and Fast Ejendom, you can compare the effects of market volatilities on Nordea Invest and Fast Ejendom 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 Fast Ejendom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea Invest and Fast Ejendom.
Diversification Opportunities for Nordea Invest and Fast Ejendom
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Nordea and Fast is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Nordea Invest Global and Fast Ejendom in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fast Ejendom 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 Global are associated (or correlated) with Fast Ejendom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fast Ejendom has no effect on the direction of Nordea Invest i.e., Nordea Invest and Fast Ejendom go up and down completely randomly.
Pair Corralation between Nordea Invest and Fast Ejendom
Assuming the 90 days trading horizon Nordea Invest Global is expected to generate 0.38 times more return on investment than Fast Ejendom. However, Nordea Invest Global is 2.62 times less risky than Fast Ejendom. It trades about 0.17 of its potential returns per unit of risk. Fast Ejendom is currently generating about 0.01 per unit of risk. If you would invest 4,444 in Nordea Invest Global on November 4, 2024 and sell it today you would earn a total of 99.00 from holding Nordea Invest Global or generate 2.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 86.36% |
| Values | Daily Returns |
Nordea Invest Global vs. Fast Ejendom
Performance |
| Timeline |
| Nordea Invest Global |
| Fast Ejendom |
Nordea Invest and Fast Ejendom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea Invest and Fast Ejendom
The main advantage of trading using opposite Nordea Invest and Fast Ejendom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea Invest position performs unexpectedly, Fast Ejendom 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 Fast Ejendom will offset losses from the drop in Fast Ejendom's long position.| Nordea Invest vs. PARKEN Sport Entertainment | Nordea Invest vs. BankIn Bredygt Klimaakt | Nordea Invest vs. Vestjysk Bank AS | Nordea Invest vs. Dataproces Group AS |
| Fast Ejendom vs. Prime Office AS | Fast Ejendom vs. First Farms AS | Fast Ejendom vs. Jeudan | Fast Ejendom vs. Gabriel Holding |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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