Correlation Between Sparinvest INDEX and Maj Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sparinvest INDEX Globale and Maj Invest Emerging, you can compare the effects of market volatilities on Sparinvest INDEX 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 Sparinvest INDEX with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest INDEX and Maj Invest.
Diversification Opportunities for Sparinvest INDEX and Maj Invest
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sparinvest and Maj is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest INDEX Globale and Maj Invest Emerging in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Emerging and Sparinvest INDEX 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 INDEX Globale 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 Emerging has no effect on the direction of Sparinvest INDEX i.e., Sparinvest INDEX and Maj Invest go up and down completely randomly.
Pair Corralation between Sparinvest INDEX and Maj Invest
Assuming the 90 days trading horizon Sparinvest INDEX Globale is expected to generate 0.7 times more return on investment than Maj Invest. However, Sparinvest INDEX Globale is 1.44 times less risky than Maj Invest. It trades about 0.17 of its potential returns per unit of risk. Maj Invest Emerging is currently generating about 0.06 per unit of risk. If you would invest 14,848 in Sparinvest INDEX Globale on October 24, 2024 and sell it today you would earn a total of 277.00 from holding Sparinvest INDEX Globale or generate 1.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sparinvest INDEX Globale vs. Maj Invest Emerging
Performance |
| Timeline |
| Sparinvest INDEX Globale |
| Maj Invest Emerging |
Sparinvest INDEX and Maj Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest INDEX and Maj Invest
The main advantage of trading using opposite Sparinvest INDEX and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest INDEX 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.| Sparinvest INDEX vs. Sparinvest INDEX Europa | Sparinvest INDEX vs. Sparinvest INDEX Hj | Sparinvest INDEX vs. Sparinvest SICAV Procedo | Sparinvest INDEX vs. Sparinvest Mellemlange |
| Maj Invest vs. Sparinvest Value Emerging | Maj Invest vs. BankInvest Emerging | Maj Invest vs. Sparinvest Lange | Maj Invest vs. Investeringsforeningen Danske Invest |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |