Correlation Between Sydinvest Fjernsten and Laan Spar
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By analyzing existing cross correlation between Sydinvest Fjernsten Akkumulerende and Laan Spar Bank, you can compare the effects of market volatilities on Sydinvest Fjernsten and Laan Spar 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 Sydinvest Fjernsten with a short position of Laan Spar. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sydinvest Fjernsten and Laan Spar.
Diversification Opportunities for Sydinvest Fjernsten and Laan Spar
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sydinvest and Laan is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Sydinvest Fjernsten Akkumulere and Laan Spar Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Laan Spar Bank and Sydinvest Fjernsten 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 Sydinvest Fjernsten Akkumulerende are associated (or correlated) with Laan Spar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Laan Spar Bank has no effect on the direction of Sydinvest Fjernsten i.e., Sydinvest Fjernsten and Laan Spar go up and down completely randomly.
Pair Corralation between Sydinvest Fjernsten and Laan Spar
Assuming the 90 days trading horizon Sydinvest Fjernsten Akkumulerende is expected to generate 0.58 times more return on investment than Laan Spar. However, Sydinvest Fjernsten Akkumulerende is 1.73 times less risky than Laan Spar. It trades about 0.03 of its potential returns per unit of risk. Laan Spar Bank is currently generating about -0.1 per unit of risk. If you would invest 33,606 in Sydinvest Fjernsten Akkumulerende on September 12, 2024 and sell it today you would earn a total of 154.00 from holding Sydinvest Fjernsten Akkumulerende or generate 0.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sydinvest Fjernsten Akkumulere vs. Laan Spar Bank
Performance |
| Timeline |
| Sydinvest Fjernsten |
| Laan Spar Bank |
Sydinvest Fjernsten and Laan Spar Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sydinvest Fjernsten and Laan Spar
The main advantage of trading using opposite Sydinvest Fjernsten and Laan Spar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sydinvest Fjernsten position performs unexpectedly, Laan Spar 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 Laan Spar will offset losses from the drop in Laan Spar's long position.| Sydinvest Fjernsten vs. BankInvest Value Globale | Sydinvest Fjernsten vs. TROPHY GAMES Development | Sydinvest Fjernsten vs. BankIn Bredygt Klimaakt | Sydinvest Fjernsten vs. Cessatech AS |
| Laan Spar vs. FLSmidth Co | Laan Spar vs. Danske Bank AS | Laan Spar vs. ISS AS | Laan Spar vs. DSV Panalpina 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.
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