Correlation Between OMX Copenhagen and Jyske Invest
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By analyzing existing cross correlation between OMX Copenhagen All and Jyske Invest Virksomhedsobligationer, you can compare the effects of market volatilities on OMX Copenhagen and Jyske 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 OMX Copenhagen with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of OMX Copenhagen and Jyske Invest.
Diversification Opportunities for OMX Copenhagen and Jyske Invest
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between OMX and Jyske is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding OMX Copenhagen All and Jyske Invest Virksomhedsobliga in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Virksom 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 Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Virksom has no effect on the direction of OMX Copenhagen i.e., OMX Copenhagen and Jyske Invest go up and down completely randomly.
Pair Corralation between OMX Copenhagen and Jyske Invest
Assuming the 90 days trading horizon OMX Copenhagen All is expected to under-perform the Jyske Invest. In addition to that, OMX Copenhagen is 5.04 times more volatile than Jyske Invest Virksomhedsobligationer. It trades about -0.14 of its total potential returns per unit of risk. Jyske Invest Virksomhedsobligationer is currently generating about 0.05 per unit of volatility. If you would invest 9,363 in Jyske Invest Virksomhedsobligationer on August 24, 2024 and sell it today you would earn a total of 29.00 from holding Jyske Invest Virksomhedsobligationer or generate 0.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
OMX Copenhagen All vs. Jyske Invest Virksomhedsobliga
Performance |
| Timeline |
OMX Copenhagen and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
OMX Copenhagen All
Pair trading matchups for OMX Copenhagen
Jyske Invest Virksomhedsobligationer
Pair trading matchups for Jyske Invest
Pair Trading with OMX Copenhagen and Jyske Invest
The main advantage of trading using opposite OMX Copenhagen and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OMX Copenhagen position performs unexpectedly, Jyske 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 Jyske Invest will offset losses from the drop in Jyske Invest's long position.| OMX Copenhagen vs. Laan Spar Bank | OMX Copenhagen vs. Strategic Investments AS | OMX Copenhagen vs. PARKEN Sport Entertainment | OMX Copenhagen vs. Vestjysk Bank AS |
| Jyske Invest vs. Novo Nordisk AS | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. DSV Panalpina AS | Jyske Invest 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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