Correlation Between Sparinv SICAV and BankInvest Basis
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sparinv SICAV and BankInvest Basis, you can compare the effects of market volatilities on Sparinv SICAV 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 Sparinv SICAV with a short position of BankInvest Basis. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinv SICAV and BankInvest Basis.
Diversification Opportunities for Sparinv SICAV and BankInvest Basis
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sparinv and BankInvest is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sparinv SICAV and BankInvest Basis in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Basis 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 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 Sparinv SICAV i.e., Sparinv SICAV and BankInvest Basis go up and down completely randomly.
Pair Corralation between Sparinv SICAV and BankInvest Basis
If you would invest 23,240 in Sparinv SICAV on November 27, 2024 and sell it today you would earn a total of 7,340 from holding Sparinv SICAV or generate 31.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Sparinv SICAV vs. BankInvest Basis
Performance |
| Timeline |
| Sparinv SICAV |
| BankInvest Basis |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Sparinv SICAV and BankInvest Basis Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinv SICAV and BankInvest Basis
The main advantage of trading using opposite Sparinv SICAV and BankInvest Basis positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinv SICAV 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.The idea behind Sparinv SICAV and BankInvest Basis 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.| BankInvest Basis vs. Investeringsforeningen Bankinvest | 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 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
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Transaction History View history of all your transactions and understand their impact on performance |