Correlation Between Sparinv SICAV and BAIEMVKL
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sparinv SICAV and Investeringsforeningen BankInvest , you can compare the effects of market volatilities on Sparinv SICAV and BAIEMVKL 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 Sparinv SICAV with a short position of BAIEMVKL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinv SICAV and BAIEMVKL.
Diversification Opportunities for Sparinv SICAV and BAIEMVKL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sparinv and BAIEMVKL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sparinv SICAV and Investeringsforeningen BankInv in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen and Sparinv SICAV 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 Sparinv SICAV are associated (or correlated) with BAIEMVKL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of Sparinv SICAV i.e., Sparinv SICAV and BAIEMVKL go up and down completely randomly.
Pair Corralation between Sparinv SICAV and BAIEMVKL
If you would invest 29,880 in Sparinv SICAV on November 27, 2024 and sell it today you would earn a total of 700.00 from holding Sparinv SICAV or generate 2.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Sparinv SICAV vs. Investeringsforeningen BankInv
Performance |
| Timeline |
| Sparinv SICAV |
| Investeringsforeningen |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Sparinv SICAV and BAIEMVKL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinv SICAV and BAIEMVKL
The main advantage of trading using opposite Sparinv SICAV and BAIEMVKL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinv SICAV position performs unexpectedly, BAIEMVKL 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 BAIEMVKL will offset losses from the drop in BAIEMVKL's long position.The idea behind Sparinv SICAV and Investeringsforeningen BankInvest pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| BAIEMVKL vs. Investeringsforeningen Danske Invest | BAIEMVKL vs. Investeringsforeningen Danske Invest | BAIEMVKL vs. Sparindex INDEX OMX | BAIEMVKL 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |