Correlation Between Jyske Invest and BankInvest Hojrentelande
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By analyzing existing cross correlation between Jyske Invest Nye and BankInvest Hojrentelande, you can compare the effects of market volatilities on Jyske Invest and BankInvest Hojrentelande 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 Jyske Invest with a short position of BankInvest Hojrentelande. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and BankInvest Hojrentelande.
Diversification Opportunities for Jyske Invest and BankInvest Hojrentelande
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jyske and BankInvest is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Nye and BankInvest Hojrentelande in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Hojrentelande and Jyske Invest 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 Jyske Invest Nye are associated (or correlated) with BankInvest Hojrentelande. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Hojrentelande has no effect on the direction of Jyske Invest i.e., Jyske Invest and BankInvest Hojrentelande go up and down completely randomly.
Pair Corralation between Jyske Invest and BankInvest Hojrentelande
Assuming the 90 days trading horizon Jyske Invest Nye is expected to generate 1.15 times more return on investment than BankInvest Hojrentelande. However, Jyske Invest is 1.15 times more volatile than BankInvest Hojrentelande. It trades about 0.04 of its potential returns per unit of risk. BankInvest Hojrentelande is currently generating about 0.0 per unit of risk. If you would invest 9,822 in Jyske Invest Nye on October 25, 2024 and sell it today you would earn a total of 86.00 from holding Jyske Invest Nye or generate 0.88% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 98.33% |
Values | Daily Returns |
Jyske Invest Nye vs. BankInvest Hojrentelande
Performance |
Timeline |
Jyske Invest Nye |
BankInvest Hojrentelande |
Jyske Invest and BankInvest Hojrentelande Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Jyske Invest and BankInvest Hojrentelande
The main advantage of trading using opposite Jyske Invest and BankInvest Hojrentelande positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, BankInvest Hojrentelande 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 BankInvest Hojrentelande will offset losses from the drop in BankInvest Hojrentelande's long position.Jyske Invest vs. Cessatech AS | Jyske Invest vs. Vestjysk Bank AS | Jyske Invest vs. Hvidbjerg Bank | Jyske Invest vs. Moens Bank AS |
BankInvest Hojrentelande vs. BankInvest Emerging | BankInvest Hojrentelande vs. BankInvest Lange Danske | BankInvest Hojrentelande vs. BankInvest Hjt | BankInvest Hojrentelande vs. BankInvest Danske |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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