Correlation Between BankInvest Value and BankIn Bredygt
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By analyzing existing cross correlation between BankInvest Value Globale and BankIn Bredygt Klimaakt, you can compare the effects of market volatilities on BankInvest Value and BankIn Bredygt 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 BankInvest Value with a short position of BankIn Bredygt. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Value and BankIn Bredygt.
Diversification Opportunities for BankInvest Value and BankIn Bredygt
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BankInvest and BankIn is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Value Globale and BankIn Bredygt Klimaakt in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankIn Bredygt Klimaakt and BankInvest Value 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 BankInvest Value Globale are associated (or correlated) with BankIn Bredygt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankIn Bredygt Klimaakt has no effect on the direction of BankInvest Value i.e., BankInvest Value and BankIn Bredygt go up and down completely randomly.
Pair Corralation between BankInvest Value and BankIn Bredygt
Assuming the 90 days trading horizon BankInvest Value Globale is expected to generate 0.6 times more return on investment than BankIn Bredygt. However, BankInvest Value Globale is 1.66 times less risky than BankIn Bredygt. It trades about 0.22 of its potential returns per unit of risk. BankIn Bredygt Klimaakt is currently generating about 0.13 per unit of risk. If you would invest 9,852 in BankInvest Value Globale on September 12, 2024 and sell it today you would earn a total of 828.00 from holding BankInvest Value Globale or generate 8.4% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 88.68% |
Values | Daily Returns |
BankInvest Value Globale vs. BankIn Bredygt Klimaakt
Performance |
Timeline |
BankInvest Value Globale |
BankIn Bredygt Klimaakt |
BankInvest Value and BankIn Bredygt Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with BankInvest Value and BankIn Bredygt
The main advantage of trading using opposite BankInvest Value and BankIn Bredygt positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Value position performs unexpectedly, BankIn Bredygt 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 BankIn Bredygt will offset losses from the drop in BankIn Bredygt's long position.BankInvest Value vs. Novo Nordisk AS | BankInvest Value vs. Nordea Bank Abp | BankInvest Value vs. DSV Panalpina AS | BankInvest Value vs. AP Mller |
BankIn Bredygt vs. Novo Nordisk AS | BankIn Bredygt vs. Nordea Bank Abp | BankIn Bredygt vs. DSV Panalpina AS | BankIn Bredygt vs. AP Mller |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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