Correlation Between Jyske Invest and Maj Invest
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By analyzing existing cross correlation between Jyske Invest Virksomhedsobligationer and Maj Invest Value, you can compare the effects of market volatilities on Jyske Invest and Maj 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 Jyske Invest with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Maj Invest.
Diversification Opportunities for Jyske Invest and Maj Invest
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jyske and Maj is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Virksomhedsobliga and Maj Invest Value in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Value 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 Virksomhedsobligationer are associated (or correlated) with Maj Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maj Invest Value has no effect on the direction of Jyske Invest i.e., Jyske Invest and Maj Invest go up and down completely randomly.
Pair Corralation between Jyske Invest and Maj Invest
Assuming the 90 days trading horizon Jyske Invest Virksomhedsobligationer is expected to generate 0.41 times more return on investment than Maj Invest. However, Jyske Invest Virksomhedsobligationer is 2.45 times less risky than Maj Invest. It trades about 0.04 of its potential returns per unit of risk. Maj Invest Value is currently generating about -0.01 per unit of risk. If you would invest 9,396 in Jyske Invest Virksomhedsobligationer on December 30, 2024 and sell it today you would earn a total of 74.00 from holding Jyske Invest Virksomhedsobligationer or generate 0.79% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Jyske Invest Virksomhedsobliga vs. Maj Invest Value
Performance |
Timeline |
Jyske Invest Virksom |
Maj Invest Value |
Jyske Invest and Maj Invest Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Jyske Invest and Maj Invest
The main advantage of trading using opposite Jyske Invest and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jyske Invest position performs unexpectedly, Maj 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 Maj Invest will offset losses from the drop in Maj Invest's long position.Jyske Invest vs. PARKEN Sport Entertainment | Jyske Invest vs. Sydbank AS | Jyske Invest vs. Dataproces Group AS | Jyske Invest vs. Skjern Bank AS |
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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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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