Correlation Between Spar Nord and Jyske Invest
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By analyzing existing cross correlation between Spar Nord Bank and Jyske Invest Virksomhedsobligationer, you can compare the effects of market volatilities on Spar Nord 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 Spar Nord with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Spar Nord and Jyske Invest.
Diversification Opportunities for Spar Nord and Jyske Invest
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Spar and Jyske is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Spar Nord Bank and Jyske Invest Virksomhedsobliga in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Virksom and Spar Nord 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 Spar Nord Bank 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 Virksom has no effect on the direction of Spar Nord i.e., Spar Nord and Jyske Invest go up and down completely randomly.
Pair Corralation between Spar Nord and Jyske Invest
Assuming the 90 days trading horizon Spar Nord Bank is expected to generate 4.11 times more return on investment than Jyske Invest. However, Spar Nord is 4.11 times more volatile than Jyske Invest Virksomhedsobligationer. It trades about 0.2 of its potential returns per unit of risk. Jyske Invest Virksomhedsobligationer is currently generating about 0.13 per unit of risk. If you would invest 13,200 in Spar Nord Bank on September 1, 2024 and sell it today you would earn a total of 720.00 from holding Spar Nord Bank or generate 5.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Spar Nord Bank vs. Jyske Invest Virksomhedsobliga
Performance |
| Timeline |
| Spar Nord Bank |
| Jyske Invest Virksom |
Spar Nord and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Spar Nord and Jyske Invest
The main advantage of trading using opposite Spar Nord and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Spar Nord 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.| Spar Nord vs. Sydbank AS | Spar Nord vs. Jyske Bank AS | Spar Nord vs. Alm Brand | Spar Nord vs. Nordea Bank Abp |
| Jyske Invest vs. Strategic Investments AS | Jyske Invest vs. TROPHY GAMES Development | Jyske Invest vs. Dataproces Group AS | Jyske Invest vs. Spar Nord Bank |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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