Correlation Between Strategic Investments and DKINMAKK
Specify exactly 2 symbols:
By analyzing existing cross correlation between Strategic Investments AS and Investeringsforeningen Danske Invest, you can compare the effects of market volatilities on Strategic Investments and DKINMAKK 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 Strategic Investments with a short position of DKINMAKK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Strategic Investments and DKINMAKK.
Diversification Opportunities for Strategic Investments and DKINMAKK
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Strategic and DKINMAKK is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Strategic Investments AS and Investeringsforeningen Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen and Strategic Investments 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 Strategic Investments AS are associated (or correlated) with DKINMAKK. 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 Strategic Investments i.e., Strategic Investments and DKINMAKK go up and down completely randomly.
Pair Corralation between Strategic Investments and DKINMAKK
Assuming the 90 days trading horizon Strategic Investments AS is expected to under-perform the DKINMAKK. In addition to that, Strategic Investments is 2.66 times more volatile than Investeringsforeningen Danske Invest. It trades about -0.03 of its total potential returns per unit of risk. Investeringsforeningen Danske Invest is currently generating about 0.08 per unit of volatility. If you would invest 29,822 in Investeringsforeningen Danske Invest on September 12, 2024 and sell it today you would earn a total of 7,428 from holding Investeringsforeningen Danske Invest or generate 24.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.7% |
| Values | Daily Returns |
Strategic Investments AS vs. Investeringsforeningen Danske
Performance |
| Timeline |
| Strategic Investments |
| Investeringsforeningen |
Strategic Investments and DKINMAKK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Strategic Investments and DKINMAKK
The main advantage of trading using opposite Strategic Investments and DKINMAKK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Strategic Investments position performs unexpectedly, DKINMAKK 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 DKINMAKK will offset losses from the drop in DKINMAKK's long position.| Strategic Investments vs. Newcap Holding AS | Strategic Investments vs. SKAKO AS | Strategic Investments vs. Rovsing AS | Strategic Investments vs. Bavarian Nordic |
| DKINMAKK vs. Ringkjoebing Landbobank AS | DKINMAKK vs. Sydbank AS | DKINMAKK vs. Strategic Investments AS | DKINMAKK vs. Vestjysk Bank 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |