Correlation Between Strategic Investments and Nordea Invest
Specify exactly 2 symbols:
By analyzing existing cross correlation between Strategic Investments AS and Nordea Invest Stabile, you can compare the effects of market volatilities on Strategic Investments and Nordea 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 Strategic Investments with a short position of Nordea Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Strategic Investments and Nordea Invest.
Diversification Opportunities for Strategic Investments and Nordea Invest
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Strategic and Nordea is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Strategic Investments AS and Nordea Invest Stabile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordea Invest Stabile 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 Nordea Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Invest Stabile has no effect on the direction of Strategic Investments i.e., Strategic Investments and Nordea Invest go up and down completely randomly.
Pair Corralation between Strategic Investments and Nordea Invest
Assuming the 90 days trading horizon Strategic Investments AS is expected to under-perform the Nordea Invest. In addition to that, Strategic Investments is 3.94 times more volatile than Nordea Invest Stabile. It trades about -0.03 of its total potential returns per unit of risk. Nordea Invest Stabile is currently generating about 0.09 per unit of volatility. If you would invest 26,710 in Nordea Invest Stabile on December 7, 2024 and sell it today you would earn a total of 4,850 from holding Nordea Invest Stabile or generate 18.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.58% |
| Values | Daily Returns |
Strategic Investments AS vs. Nordea Invest Stabile
Performance |
| Timeline |
| Strategic Investments |
| Nordea Invest Stabile |
Strategic Investments and Nordea Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Strategic Investments and Nordea Invest
The main advantage of trading using opposite Strategic Investments and Nordea Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Strategic Investments position performs unexpectedly, Nordea 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 Nordea Invest will offset losses from the drop in Nordea Invest's long position.| Strategic Investments vs. Newcap Holding AS | Strategic Investments vs. SKAKO AS | Strategic Investments vs. Rovsing AS |
| Nordea Invest vs. Moens Bank AS | Nordea Invest vs. BankInvest Value Globale | Nordea Invest vs. Prime Office AS | Nordea Invest vs. Embla Medical hf |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |