Correlation Between Nordea Invest and Jyske Bank
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By analyzing existing cross correlation between Nordea Invest Stabile and Jyske Bank AS, you can compare the effects of market volatilities on Nordea Invest and Jyske 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 Jyske Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea Invest and Jyske Bank.
Diversification Opportunities for Nordea Invest and Jyske Bank
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Nordea and Jyske is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Nordea Invest Stabile and Jyske Bank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Bank 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 Stabile are associated (or correlated) with Jyske Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Bank AS has no effect on the direction of Nordea Invest i.e., Nordea Invest and Jyske Bank go up and down completely randomly.
Pair Corralation between Nordea Invest and Jyske Bank
Assuming the 90 days trading horizon Nordea Invest is expected to generate 3.85 times less return on investment than Jyske Bank. But when comparing it to its historical volatility, Nordea Invest Stabile is 1.47 times less risky than Jyske Bank. It trades about 0.08 of its potential returns per unit of risk. Jyske Bank AS is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 49,280 in Jyske Bank AS on September 20, 2024 and sell it today you would earn a total of 1,970 from holding Jyske Bank AS or generate 4.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Nordea Invest Stabile vs. Jyske Bank AS
Performance |
| Timeline |
| Nordea Invest Stabile |
| Jyske Bank AS |
Nordea Invest and Jyske Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea Invest and Jyske Bank
The main advantage of trading using opposite Nordea Invest and Jyske Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea Invest position performs unexpectedly, Jyske 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 Jyske Bank will offset losses from the drop in Jyske Bank's long position.| Nordea Invest vs. Jyske Bank AS | Nordea Invest vs. Kreditbanken AS | Nordea Invest vs. North Media AS | Nordea Invest vs. Strategic Investments AS |
| Jyske Bank vs. Nordinvestments AS | Jyske Bank vs. TROPHY GAMES Development | Jyske Bank vs. Lollands Bank | Jyske Bank vs. Nordea Bank Abp |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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