Correlation Between Nordinvestments and Nordea Invest

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Can any of the company-specific risk be diversified away by investing in both Nordinvestments and Nordea Invest at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Nordinvestments and Nordea Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nordinvestments AS and Nordea Invest Aktier, you can compare the effects of market volatilities on Nordinvestments and Nordea Invest 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 Nordinvestments with a short position of Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordinvestments and Nordea Invest.

Diversification Opportunities for Nordinvestments and Nordea Invest

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  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Nordinvestments and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nordinvestments AS and Nordea Invest Aktier in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Aktier and Nordinvestments 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 Nordinvestments AS are associated (or correlated) with Nordea Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Invest Aktier has no effect on the direction of Nordinvestments i.e., Nordinvestments and Nordea Invest go up and down completely randomly.

Pair Corralation between Nordinvestments and Nordea Invest

If you would invest  51,860  in Nordea Invest Aktier on September 19, 2024 and sell it today you would earn a total of  3,330  from holding Nordea Invest Aktier or generate 6.42% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy79.69%
ValuesDaily Returns

Nordinvestments AS  vs.  Nordea Invest Aktier

 Performance 
       Timeline  
Nordinvestments AS 

Risk-Adjusted Performance

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Over the last 90 days Nordinvestments AS has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Nordinvestments is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.
Nordea Invest Aktier 

Risk-Adjusted Performance

13 of 100

 
Weak
 
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Good
Compared to the overall equity markets, risk-adjusted returns on investments in Nordea Invest Aktier are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite fairly weak forward indicators, Nordea Invest may actually be approaching a critical reversion point that can send shares even higher in January 2025.

Nordinvestments and Nordea Invest Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Nordinvestments and Nordea Invest

The main advantage of trading using opposite Nordinvestments and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordinvestments position performs unexpectedly, Nordea Invest 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 Nordea Invest will offset losses from the drop in Nordea Invest's long position.
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The idea behind Nordinvestments AS and Nordea Invest Aktier pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.

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