Correlation Between OMX Copenhagen and Sparinv SICAV
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By analyzing existing cross correlation between OMX Copenhagen All and Sparinv SICAV, you can compare the effects of market volatilities on OMX Copenhagen and Sparinv SICAV 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 Sparinv SICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of OMX Copenhagen and Sparinv SICAV.
Diversification Opportunities for OMX Copenhagen and Sparinv SICAV
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between OMX and Sparinv is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OMX Copenhagen All and Sparinv SICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparinv SICAV 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 Sparinv SICAV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparinv SICAV has no effect on the direction of OMX Copenhagen i.e., OMX Copenhagen and Sparinv SICAV go up and down completely randomly.
Pair Corralation between OMX Copenhagen and Sparinv SICAV
If you would invest 170,211 in OMX Copenhagen All on September 13, 2024 and sell it today you would earn a total of 5,417 from holding OMX Copenhagen All or generate 3.18% 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. Sparinv SICAV
Performance |
| Timeline |
OMX Copenhagen and Sparinv SICAV Volatility Contrast
Predicted Return Density |
| Returns |
OMX Copenhagen All
Pair trading matchups for OMX Copenhagen
Sparinv SICAV
Pair trading matchups for Sparinv SICAV
Pair Trading with OMX Copenhagen and Sparinv SICAV
The main advantage of trading using opposite OMX Copenhagen and Sparinv SICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OMX Copenhagen position performs unexpectedly, Sparinv SICAV 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 Sparinv SICAV will offset losses from the drop in Sparinv SICAV's long position.| OMX Copenhagen vs. Cessatech AS | OMX Copenhagen vs. NTG Nordic Transport | OMX Copenhagen vs. Dataproces Group AS | OMX Copenhagen vs. Jyske Bank AS |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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