Correlation Between Skjern Bank and Nordea Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Skjern Bank AS and Nordea Invest Aktier, you can compare the effects of market volatilities on Skjern Bank 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 Skjern Bank with a short position of Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Skjern Bank and Nordea Invest.
Diversification Opportunities for Skjern Bank and Nordea Invest
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Skjern and Nordea is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Skjern Bank AS and Nordea Invest Aktier in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Aktier and Skjern Bank 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 Skjern Bank AS 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 Aktier has no effect on the direction of Skjern Bank i.e., Skjern Bank and Nordea Invest go up and down completely randomly.
Pair Corralation between Skjern Bank and Nordea Invest
If you would invest (100.00) in Nordea Invest Aktier on November 8, 2024 and sell it today you would earn a total of 100.00 from holding Nordea Invest Aktier or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Skjern Bank AS vs. Nordea Invest Aktier
Performance |
| Timeline |
| Skjern Bank AS |
| Nordea Invest Aktier |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Skjern Bank and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Skjern Bank and Nordea Invest
The main advantage of trading using opposite Skjern Bank and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Skjern Bank 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.| Skjern Bank vs. BankInvest Value Globale | Skjern Bank vs. BankInv Kort HY | Skjern Bank vs. Lollands Bank | Skjern Bank vs. Prime Office AS |
| Nordea Invest vs. PARKEN Sport Entertainment | Nordea Invest vs. Carnegie Wealth Management | Nordea Invest vs. Lollands Bank | Nordea Invest vs. Vestjysk 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |