Correlation Between SDG Invest and Nordea Invest
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By analyzing existing cross correlation between SDG Invest Globale and Nordea Invest Global, you can compare the effects of market volatilities on SDG Invest and Nordea 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 SDG Invest with a short position of Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of SDG Invest and Nordea Invest.
Diversification Opportunities for SDG Invest and Nordea Invest
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SDG and Nordea is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding SDG Invest Globale and Nordea Invest Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Global and SDG Invest 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 SDG Invest Globale are associated (or correlated) with Nordea Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Invest Global has no effect on the direction of SDG Invest i.e., SDG Invest and Nordea Invest go up and down completely randomly.
Pair Corralation between SDG Invest and Nordea Invest
Assuming the 90 days trading horizon SDG Invest is expected to generate 2.77 times less return on investment than Nordea Invest. But when comparing it to its historical volatility, SDG Invest Globale is 1.26 times less risky than Nordea Invest. It trades about 0.04 of its potential returns per unit of risk. Nordea Invest Global is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 4,329 in Nordea Invest Global on October 25, 2024 and sell it today you would earn a total of 195.00 from holding Nordea Invest Global or generate 4.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 91.38% |
| Values | Daily Returns |
SDG Invest Globale vs. Nordea Invest Global
Performance |
| Timeline |
| SDG Invest Globale |
| Nordea Invest Global |
SDG Invest and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SDG Invest and Nordea Invest
The main advantage of trading using opposite SDG Invest and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SDG Invest position performs unexpectedly, Nordea 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 Nordea Invest will offset losses from the drop in Nordea Invest's long position.| SDG Invest vs. Lollands Bank | SDG Invest vs. Fynske Bank AS | SDG Invest vs. Formuepleje Mix Medium | SDG Invest vs. PARKEN Sport Entertainment |
| Nordea Invest vs. Danske Andelskassers Bank | Nordea Invest vs. Carnegie Wealth Management | Nordea Invest vs. Hvidbjerg Bank | Nordea Invest vs. PARKEN Sport Entertainment |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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