Correlation Between OMX Copenhagen and Asgaard Group
Specify exactly 2 symbols:
By analyzing existing cross correlation between OMX Copenhagen All and Asgaard Group As, you can compare the effects of market volatilities on OMX Copenhagen and Asgaard Group 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 OMX Copenhagen with a short position of Asgaard Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of OMX Copenhagen and Asgaard Group.
Diversification Opportunities for OMX Copenhagen and Asgaard Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OMX and Asgaard is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OMX Copenhagen All and Asgaard Group As in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asgaard Group As and OMX Copenhagen 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 OMX Copenhagen All are associated (or correlated) with Asgaard Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asgaard Group As has no effect on the direction of OMX Copenhagen i.e., OMX Copenhagen and Asgaard Group go up and down completely randomly.
Pair Corralation between OMX Copenhagen and Asgaard Group
If you would invest 147,912 in OMX Copenhagen All on November 27, 2024 and sell it today you would earn a total of 11,262 from holding OMX Copenhagen All or generate 7.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
OMX Copenhagen All vs. Asgaard Group As
Performance |
| Timeline |
OMX Copenhagen and Asgaard Group Volatility Contrast
Predicted Return Density |
| Returns |
OMX Copenhagen All
Pair trading matchups for OMX Copenhagen
Asgaard Group As
Pair trading matchups for Asgaard Group
Pair Trading with OMX Copenhagen and Asgaard Group
The main advantage of trading using opposite OMX Copenhagen and Asgaard Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OMX Copenhagen position performs unexpectedly, Asgaard Group 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 Asgaard Group will offset losses from the drop in Asgaard Group's long position.| OMX Copenhagen vs. Ringkjoebing Landbobank AS | OMX Copenhagen vs. Nordinvestments AS | OMX Copenhagen vs. Fynske Bank AS | OMX Copenhagen vs. NTG Nordic Transport |
| Asgaard Group vs. Kreditbanken AS | Asgaard Group vs. Strategic Investments AS | Asgaard Group vs. NTG Nordic Transport | Asgaard Group vs. BankInvest Value Globale |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |