Correlation Between Netflix and DKINMAKK
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By analyzing existing cross correlation between Netflix and Investeringsforeningen Danske Invest, you can compare the effects of market volatilities on Netflix and DKINMAKK 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 Netflix with a short position of DKINMAKK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Netflix and DKINMAKK.
Diversification Opportunities for Netflix and DKINMAKK
Modest diversification
The 3 months correlation between Netflix and DKINMAKK is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Netflix and Investeringsforeningen Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen and Netflix 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 Netflix are associated (or correlated) with DKINMAKK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of Netflix i.e., Netflix and DKINMAKK go up and down completely randomly.
Pair Corralation between Netflix and DKINMAKK
Given the investment horizon of 90 days Netflix is expected to generate 2.12 times more return on investment than DKINMAKK. However, Netflix is 2.12 times more volatile than Investeringsforeningen Danske Invest. It trades about 0.45 of its potential returns per unit of risk. Investeringsforeningen Danske Invest is currently generating about -0.06 per unit of risk. If you would invest 80,544 in Netflix on September 12, 2024 and sell it today you would earn a total of 13,486 from holding Netflix or generate 16.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Netflix vs. Investeringsforeningen Danske
Performance |
| Timeline |
| Netflix |
| Investeringsforeningen |
Netflix and DKINMAKK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Netflix and DKINMAKK
The main advantage of trading using opposite Netflix and DKINMAKK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Netflix position performs unexpectedly, DKINMAKK 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 DKINMAKK will offset losses from the drop in DKINMAKK's long position.| Netflix vs. Paramount Global Class | Netflix vs. Roku Inc | Netflix vs. Warner Bros Discovery | Netflix vs. AMC Entertainment Holdings |
| DKINMAKK vs. Ringkjoebing Landbobank AS | DKINMAKK vs. Sydbank AS | DKINMAKK vs. Strategic Investments AS | DKINMAKK vs. Vestjysk Bank 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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