Correlation Between Pexip Holding and DNB NOR
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By analyzing existing cross correlation between Pexip Holding ASA and DNB NOR KAPFORV, you can compare the effects of market volatilities on Pexip Holding and DNB NOR 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 Pexip Holding with a short position of DNB NOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pexip Holding and DNB NOR.
Diversification Opportunities for Pexip Holding and DNB NOR
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Pexip and DNB is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Pexip Holding ASA and DNB NOR KAPFORV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DNB NOR KAPFORV and Pexip Holding 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 Pexip Holding ASA are associated (or correlated) with DNB NOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DNB NOR KAPFORV has no effect on the direction of Pexip Holding i.e., Pexip Holding and DNB NOR go up and down completely randomly.
Pair Corralation between Pexip Holding and DNB NOR
Assuming the 90 days trading horizon Pexip Holding ASA is expected to generate 10.92 times more return on investment than DNB NOR. However, Pexip Holding is 10.92 times more volatile than DNB NOR KAPFORV. It trades about 0.16 of its potential returns per unit of risk. DNB NOR KAPFORV is currently generating about 0.16 per unit of risk. If you would invest 3,030 in Pexip Holding ASA on September 1, 2024 and sell it today you would earn a total of 1,485 from holding Pexip Holding ASA or generate 49.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.23% |
| Values | Daily Returns |
Pexip Holding ASA vs. DNB NOR KAPFORV
Performance |
| Timeline |
| Pexip Holding ASA |
| DNB NOR KAPFORV |
Pexip Holding and DNB NOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pexip Holding and DNB NOR
The main advantage of trading using opposite Pexip Holding and DNB NOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pexip Holding position performs unexpectedly, DNB NOR 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 DNB NOR will offset losses from the drop in DNB NOR's long position.| Pexip Holding vs. Elliptic Laboratories AS | Pexip Holding vs. Huddlestock Fintech As | Pexip Holding vs. Elkem ASA | Pexip Holding vs. Integrated Wind Solutions |
| DNB NOR vs. Elkem ASA | DNB NOR vs. Integrated Wind Solutions | DNB NOR vs. Vow ASA | DNB NOR vs. North Energy ASA |
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 CEOs Directory module to screen CEOs from public companies around the world.
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