Correlation Between Nordea 1 and BEKA LUX
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By analyzing existing cross correlation between Nordea 1 SICAV and BEKA LUX SICAV, you can compare the effects of market volatilities on Nordea 1 and BEKA LUX 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 BEKA LUX. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordea 1 and BEKA LUX.
Diversification Opportunities for Nordea 1 and BEKA LUX
Pay attention - limited upside
The 3 months correlation between Nordea and BEKA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nordea 1 SICAV and BEKA LUX SICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BEKA LUX SICAV 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 BEKA LUX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BEKA LUX SICAV has no effect on the direction of Nordea 1 i.e., Nordea 1 and BEKA LUX go up and down completely randomly.
Pair Corralation between Nordea 1 and BEKA LUX
If you would invest 8,669 in BEKA LUX SICAV on November 5, 2024 and sell it today you would earn a total of 58.00 from holding BEKA LUX SICAV or generate 0.67% 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. BEKA LUX SICAV
Performance |
| Timeline |
| Nordea 1 SICAV |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| BEKA LUX SICAV |
Nordea 1 and BEKA LUX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nordea 1 and BEKA LUX
The main advantage of trading using opposite Nordea 1 and BEKA LUX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nordea 1 position performs unexpectedly, BEKA LUX 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 BEKA LUX will offset losses from the drop in BEKA LUX'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 |
| BEKA LUX vs. Esfera Robotics R | BEKA LUX vs. R co Valor F | BEKA LUX vs. CM AM Monplus NE | BEKA LUX vs. IE00B0H4TS55 |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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