Correlation Between Orsted AS and Maj Invest
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By analyzing existing cross correlation between Orsted AS and Maj Invest Glob, you can compare the effects of market volatilities on Orsted AS and Maj 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 Orsted AS with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Orsted AS and Maj Invest.
Diversification Opportunities for Orsted AS and Maj Invest
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Orsted and Maj is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Orsted AS and Maj Invest Glob in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Glob and Orsted AS 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 Orsted AS are associated (or correlated) with Maj Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maj Invest Glob has no effect on the direction of Orsted AS i.e., Orsted AS and Maj Invest go up and down completely randomly.
Pair Corralation between Orsted AS and Maj Invest
Assuming the 90 days trading horizon Orsted AS is expected to under-perform the Maj Invest. In addition to that, Orsted AS is 3.21 times more volatile than Maj Invest Glob. It trades about -0.02 of its total potential returns per unit of risk. Maj Invest Glob is currently generating about 0.1 per unit of volatility. If you would invest 10,220 in Maj Invest Glob on August 29, 2024 and sell it today you would earn a total of 4,005 from holding Maj Invest Glob or generate 39.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 74.19% |
| Values | Daily Returns |
Orsted AS vs. Maj Invest Glob
Performance |
| Timeline |
| Orsted AS |
| Maj Invest Glob |
Orsted AS and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Orsted AS and Maj Invest
The main advantage of trading using opposite Orsted AS and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Orsted AS position performs unexpectedly, Maj 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 Maj Invest will offset losses from the drop in Maj Invest's long position.| Orsted AS vs. Jeudan | Orsted AS vs. Investeringsselskabet Luxor AS | Orsted AS vs. Fast Ejendom | Orsted AS vs. Prime Office AS |
| Maj Invest vs. Jyske Bank AS | Maj Invest vs. Strategic Investments AS | Maj Invest vs. PARKEN Sport Entertainment | Maj Invest vs. BankIn Bredygt Klimaakt |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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