Correlation Between Sparinvest INDEX and Jyske Invest
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By analyzing existing cross correlation between Sparinvest INDEX Hj and Jyske Invest Korte, you can compare the effects of market volatilities on Sparinvest INDEX 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 INDEX with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest INDEX and Jyske Invest.
Diversification Opportunities for Sparinvest INDEX and Jyske Invest
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Sparinvest and Jyske is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest INDEX Hj and Jyske Invest Korte in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Korte 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 Hj 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 Korte has no effect on the direction of Sparinvest INDEX i.e., Sparinvest INDEX and Jyske Invest go up and down completely randomly.
Pair Corralation between Sparinvest INDEX and Jyske Invest
Assuming the 90 days trading horizon Sparinvest INDEX Hj is expected to generate 13.72 times more return on investment than Jyske Invest. However, Sparinvest INDEX is 13.72 times more volatile than Jyske Invest Korte. It trades about 0.3 of its potential returns per unit of risk. Jyske Invest Korte is currently generating about 0.63 per unit of risk. If you would invest 12,575 in Sparinvest INDEX Hj on September 1, 2024 and sell it today you would earn a total of 560.00 from holding Sparinvest INDEX Hj or generate 4.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sparinvest INDEX Hj vs. Jyske Invest Korte
Performance |
| Timeline |
| Sparinvest INDEX |
| Jyske Invest Korte |
Sparinvest INDEX and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest INDEX and Jyske Invest
The main advantage of trading using opposite Sparinvest INDEX and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest INDEX 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 INDEX vs. Jyske Invest Nye | Sparinvest INDEX vs. Jyske Invest Korte | Sparinvest INDEX vs. Jyske Invest Nye | Sparinvest INDEX vs. Jyske Invest Virksomhedsobligationer |
| Jyske Invest vs. Djurslands Bank | Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. Moens Bank AS | Jyske Invest vs. Groenlandsbanken AS |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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