Correlation Between Nordfyns Bank and Sydinvest Mellemlange
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By analyzing existing cross correlation between Nordfyns Bank AS and Sydinvest Mellemlange Obligationer, you can compare the effects of market volatilities on Nordfyns Bank and Sydinvest Mellemlange 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 Nordfyns Bank with a short position of Sydinvest Mellemlange. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordfyns Bank and Sydinvest Mellemlange.
Diversification Opportunities for Nordfyns Bank and Sydinvest Mellemlange
-0.85 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Nordfyns and Sydinvest is -0.85. Overlapping area represents the amount of risk that can be diversified away by holding Nordfyns Bank AS and Sydinvest Mellemlange Obligati in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sydinvest Mellemlange and Nordfyns Bank 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 Nordfyns Bank AS are associated (or correlated) with Sydinvest Mellemlange. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sydinvest Mellemlange has no effect on the direction of Nordfyns Bank i.e., Nordfyns Bank and Sydinvest Mellemlange go up and down completely randomly.
Pair Corralation between Nordfyns Bank and Sydinvest Mellemlange
Assuming the 90 days trading horizon Nordfyns Bank AS is expected to generate 9.93 times more return on investment than Sydinvest Mellemlange. However, Nordfyns Bank is 9.93 times more volatile than Sydinvest Mellemlange Obligationer. It trades about 0.06 of its potential returns per unit of risk. Sydinvest Mellemlange Obligationer is currently generating about 0.2 per unit of risk. If you would invest 27,200 in Nordfyns Bank AS on September 12, 2024 and sell it today you would earn a total of 5,200 from holding Nordfyns Bank AS or generate 19.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Nordfyns Bank AS vs. Sydinvest Mellemlange Obligati
Performance |
| Timeline |
| Nordfyns Bank AS |
| Sydinvest Mellemlange |
Nordfyns Bank and Sydinvest Mellemlange Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordfyns Bank and Sydinvest Mellemlange
The main advantage of trading using opposite Nordfyns Bank and Sydinvest Mellemlange positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordfyns Bank position performs unexpectedly, Sydinvest Mellemlange 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 Sydinvest Mellemlange will offset losses from the drop in Sydinvest Mellemlange's long position.| Nordfyns Bank vs. Skjern Bank AS | Nordfyns Bank vs. Lollands Bank | Nordfyns Bank vs. Djurslands Bank | Nordfyns Bank vs. Moens Bank AS |
| Sydinvest Mellemlange vs. Novo Nordisk AS | Sydinvest Mellemlange vs. Nordea Bank Abp | Sydinvest Mellemlange vs. DSV Panalpina AS | Sydinvest Mellemlange vs. AP Mller |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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