Correlation Between Nordea 1 and IE00B0H4TS55
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By analyzing existing cross correlation between Nordea 1 SICAV and IE00B0H4TS55, you can compare the effects of market volatilities on Nordea 1 and IE00B0H4TS55 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 Nordea 1 with a short position of IE00B0H4TS55. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea 1 and IE00B0H4TS55.
Diversification Opportunities for Nordea 1 and IE00B0H4TS55
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Nordea and IE00B0H4TS55 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nordea 1 SICAV and IE00B0H4TS55 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IE00B0H4TS55 and Nordea 1 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 Nordea 1 SICAV are associated (or correlated) with IE00B0H4TS55. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IE00B0H4TS55 has no effect on the direction of Nordea 1 i.e., Nordea 1 and IE00B0H4TS55 go up and down completely randomly.
Pair Corralation between Nordea 1 and IE00B0H4TS55
If you would invest 17,429 in IE00B0H4TS55 on October 28, 2024 and sell it today you would earn a total of 1,105 from holding IE00B0H4TS55 or generate 6.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Nordea 1 SICAV vs. IE00B0H4TS55
Performance |
| Timeline |
| Nordea 1 SICAV |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| IE00B0H4TS55 |
Nordea 1 and IE00B0H4TS55 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea 1 and IE00B0H4TS55
The main advantage of trading using opposite Nordea 1 and IE00B0H4TS55 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea 1 position performs unexpectedly, IE00B0H4TS55 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 IE00B0H4TS55 will offset losses from the drop in IE00B0H4TS55's long position.| Nordea 1 vs. Esfera Robotics R | Nordea 1 vs. R co Valor F | Nordea 1 vs. CM AM Monplus NE | Nordea 1 vs. IE00B0H4TS55 |
| IE00B0H4TS55 vs. Esfera Robotics R | IE00B0H4TS55 vs. R co Valor F | IE00B0H4TS55 vs. CM AM Monplus NE | IE00B0H4TS55 vs. BEKA LUX 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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