Correlation Between OMX Copenhagen and BankInvest Basis
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By analyzing existing cross correlation between OMX Copenhagen All and BankInvest Basis, you can compare the effects of market volatilities on OMX Copenhagen and BankInvest Basis 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 BankInvest Basis. Check out your portfolio center. Please also check ongoing floating volatility patterns of OMX Copenhagen and BankInvest Basis.
Diversification Opportunities for OMX Copenhagen and BankInvest Basis
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OMX and BankInvest is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OMX Copenhagen All and BankInvest Basis in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Basis 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 BankInvest Basis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Basis has no effect on the direction of OMX Copenhagen i.e., OMX Copenhagen and BankInvest Basis go up and down completely randomly.
Pair Corralation between OMX Copenhagen and BankInvest Basis
If you would invest 170,450 in OMX Copenhagen All on September 14, 2024 and sell it today you would earn a total of 4,654 from holding OMX Copenhagen All or generate 2.73% 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. BankInvest Basis
Performance |
| Timeline |
OMX Copenhagen and BankInvest Basis Volatility Contrast
Predicted Return Density |
| Returns |
OMX Copenhagen All
Pair trading matchups for OMX Copenhagen
BankInvest Basis
Pair trading matchups for BankInvest Basis
Pair Trading with OMX Copenhagen and BankInvest Basis
The main advantage of trading using opposite OMX Copenhagen and BankInvest Basis positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OMX Copenhagen position performs unexpectedly, BankInvest Basis 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 BankInvest Basis will offset losses from the drop in BankInvest Basis' long position.| OMX Copenhagen vs. Scandinavian Medical Solutions | OMX Copenhagen vs. Nordinvestments AS | OMX Copenhagen vs. Nordfyns Bank AS | OMX Copenhagen vs. PARKEN Sport Entertainment |
| BankInvest Basis vs. BankInvest Emerging | BankInvest Basis vs. BankInvest Emerging | BankInvest Basis vs. BankInvest Lange Danske | BankInvest Basis vs. BankInvest Hjt |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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