Correlation Between Sparinvest Lange and Jyske Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sparinvest Lange and Jyske Invest Nye, you can compare the effects of market volatilities on Sparinvest Lange and Jyske 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 Lange with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest Lange and Jyske Invest.
Diversification Opportunities for Sparinvest Lange and Jyske Invest
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sparinvest and Jyske is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest Lange and Jyske Invest Nye in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Nye 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 Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Nye has no effect on the direction of Sparinvest Lange i.e., Sparinvest Lange and Jyske Invest go up and down completely randomly.
Pair Corralation between Sparinvest Lange and Jyske Invest
Assuming the 90 days trading horizon Sparinvest Lange is expected to generate 0.72 times more return on investment than Jyske Invest. However, Sparinvest Lange is 1.38 times less risky than Jyske Invest. It trades about 0.08 of its potential returns per unit of risk. Jyske Invest Nye is currently generating about 0.03 per unit of risk. If you would invest 9,498 in Sparinvest Lange on August 28, 2024 and sell it today you would earn a total of 50.00 from holding Sparinvest Lange or generate 0.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sparinvest Lange vs. Jyske Invest Nye
Performance |
| Timeline |
| Sparinvest Lange |
| Jyske Invest Nye |
Sparinvest Lange and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest Lange and Jyske Invest
The main advantage of trading using opposite Sparinvest Lange and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest Lange position performs unexpectedly, Jyske 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 Jyske Invest will offset losses from the drop in Jyske Invest's long position.| Sparinvest Lange vs. Jyske Invest Nye | Sparinvest Lange vs. Jyske Invest Korte | Sparinvest Lange vs. Jyske Invest Nye | Sparinvest Lange vs. Jyske Invest Virksomhedsobligationer |
| Jyske Invest vs. Novo Nordisk AS | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. DSV Panalpina AS | Jyske Invest vs. AP Mller |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| 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 | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |