Correlation Between Sydinvest Virksomhedsoblig and Jyske Invest
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By analyzing existing cross correlation between Sydinvest Virksomhedsobligationer HY and Jyske Invest Nye, you can compare the effects of market volatilities on Sydinvest Virksomhedsoblig and Jyske 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 Sydinvest Virksomhedsoblig with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sydinvest Virksomhedsoblig and Jyske Invest.
Diversification Opportunities for Sydinvest Virksomhedsoblig and Jyske Invest
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sydinvest and Jyske is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Sydinvest Virksomhedsobligatio and Jyske Invest Nye in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Nye and Sydinvest Virksomhedsoblig 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 Virksomhedsobligationer HY are associated (or correlated) with Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Nye has no effect on the direction of Sydinvest Virksomhedsoblig i.e., Sydinvest Virksomhedsoblig and Jyske Invest go up and down completely randomly.
Pair Corralation between Sydinvest Virksomhedsoblig and Jyske Invest
Assuming the 90 days trading horizon Sydinvest Virksomhedsobligationer HY is expected to generate 0.63 times more return on investment than Jyske Invest. However, Sydinvest Virksomhedsobligationer HY is 1.58 times less risky than Jyske Invest. It trades about 0.15 of its potential returns per unit of risk. Jyske Invest Nye is currently generating about 0.09 per unit of risk. If you would invest 7,896 in Sydinvest Virksomhedsobligationer HY on September 4, 2024 and sell it today you would earn a total of 814.00 from holding Sydinvest Virksomhedsobligationer HY or generate 10.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.8% |
| Values | Daily Returns |
Sydinvest Virksomhedsobligatio vs. Jyske Invest Nye
Performance |
| Timeline |
| Sydinvest Virksomhedsoblig |
| Jyske Invest Nye |
Sydinvest Virksomhedsoblig and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sydinvest Virksomhedsoblig and Jyske Invest
The main advantage of trading using opposite Sydinvest Virksomhedsoblig and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sydinvest Virksomhedsoblig position performs unexpectedly, Jyske 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 Jyske Invest will offset losses from the drop in Jyske Invest's long position.The idea behind Sydinvest Virksomhedsobligationer HY and Jyske Invest Nye 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.
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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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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