Correlation Between Sparinvest Lange and BankInvest Basis
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By analyzing existing cross correlation between Sparinvest Lange and BankInvest Basis, you can compare the effects of market volatilities on Sparinvest Lange and BankInvest Basis 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 Lange with a short position of BankInvest Basis. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest Lange and BankInvest Basis.
Diversification Opportunities for Sparinvest Lange and BankInvest Basis
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sparinvest and BankInvest is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest Lange and BankInvest Basis in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Basis and Sparinvest Lange 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 Lange are associated (or correlated) with BankInvest Basis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Basis has no effect on the direction of Sparinvest Lange i.e., Sparinvest Lange and BankInvest Basis go up and down completely randomly.
Pair Corralation between Sparinvest Lange and BankInvest Basis
If you would invest 9,376 in Sparinvest Lange on August 29, 2024 and sell it today you would earn a total of 172.00 from holding Sparinvest Lange or generate 1.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Sparinvest Lange vs. BankInvest Basis
Performance |
| Timeline |
| Sparinvest Lange |
| BankInvest Basis |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Sparinvest Lange and BankInvest Basis Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest Lange and BankInvest Basis
The main advantage of trading using opposite Sparinvest Lange and BankInvest Basis positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest Lange position performs unexpectedly, BankInvest Basis 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 BankInvest Basis will offset losses from the drop in BankInvest Basis' long position.| Sparinvest Lange vs. Sparinvest Value Emerging | Sparinvest Lange vs. Sparinvest Europa Growth | Sparinvest Lange vs. Sparinvest INDEX Europa | Sparinvest Lange vs. Sparinvest INDEX Hj |
| BankInvest Basis vs. Sparinvest Lange | BankInvest Basis vs. Investeringsforeningen Danske Invest | BankInvest Basis vs. Sparinv SICAV |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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