Correlation Between Sparinvest Europa and BAIGAI
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By analyzing existing cross correlation between Sparinvest Europa Growth and Investeringsforeningen Bankinvest , you can compare the effects of market volatilities on Sparinvest Europa and BAIGAI 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 Sparinvest Europa with a short position of BAIGAI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest Europa and BAIGAI.
Diversification Opportunities for Sparinvest Europa and BAIGAI
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sparinvest and BAIGAI is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest Europa Growth and Investeringsforeningen Bankinv in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen and Sparinvest Europa 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 Sparinvest Europa Growth are associated (or correlated) with BAIGAI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of Sparinvest Europa i.e., Sparinvest Europa and BAIGAI go up and down completely randomly.
Pair Corralation between Sparinvest Europa and BAIGAI
Assuming the 90 days trading horizon Sparinvest Europa is expected to generate 7.99 times less return on investment than BAIGAI. In addition to that, Sparinvest Europa is 1.1 times more volatile than Investeringsforeningen Bankinvest . It trades about 0.04 of its total potential returns per unit of risk. Investeringsforeningen Bankinvest is currently generating about 0.36 per unit of volatility. If you would invest 13,532 in Investeringsforeningen Bankinvest on September 1, 2024 and sell it today you would earn a total of 961.00 from holding Investeringsforeningen Bankinvest or generate 7.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Sparinvest Europa Growth vs. Investeringsforeningen Bankinv
Performance |
| Timeline |
| Sparinvest Europa Growth |
| Investeringsforeningen |
Sparinvest Europa and BAIGAI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest Europa and BAIGAI
The main advantage of trading using opposite Sparinvest Europa and BAIGAI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest Europa position performs unexpectedly, BAIGAI 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 BAIGAI will offset losses from the drop in BAIGAI's long position.| Sparinvest Europa vs. Jyske Invest Nye | Sparinvest Europa vs. Jyske Invest Korte | Sparinvest Europa vs. Jyske Invest Nye | Sparinvest Europa vs. Jyske Invest Virksomhedsobligationer |
| BAIGAI vs. Sparinvest Lange | BAIGAI vs. Investeringsforeningen Danske Invest | BAIGAI vs. Sparinv SICAV | BAIGAI vs. Sparinvest Value Emerging |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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