Correlation Between Scandinavian Investment and BankInvest Value
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By analyzing existing cross correlation between Scandinavian Investment Group and BankInvest Value Globale, you can compare the effects of market volatilities on Scandinavian Investment and BankInvest Value 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 Scandinavian Investment with a short position of BankInvest Value. Check out your portfolio center. Please also check ongoing floating volatility patterns of Scandinavian Investment and BankInvest Value.
Diversification Opportunities for Scandinavian Investment and BankInvest Value
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Scandinavian and BankInvest is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Scandinavian Investment Group and BankInvest Value Globale in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Value Globale and Scandinavian Investment 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 Scandinavian Investment Group are associated (or correlated) with BankInvest Value. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Value Globale has no effect on the direction of Scandinavian Investment i.e., Scandinavian Investment and BankInvest Value go up and down completely randomly.
Pair Corralation between Scandinavian Investment and BankInvest Value
Assuming the 90 days trading horizon Scandinavian Investment Group is expected to under-perform the BankInvest Value. In addition to that, Scandinavian Investment is 3.24 times more volatile than BankInvest Value Globale. It trades about -0.04 of its total potential returns per unit of risk. BankInvest Value Globale is currently generating about -0.07 per unit of volatility. If you would invest 10,680 in BankInvest Value Globale on October 11, 2024 and sell it today you would lose (90.00) from holding BankInvest Value Globale or give up 0.84% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 88.89% |
Values | Daily Returns |
Scandinavian Investment Group vs. BankInvest Value Globale
Performance |
Timeline |
Scandinavian Investment |
BankInvest Value Globale |
Scandinavian Investment and BankInvest Value Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Scandinavian Investment and BankInvest Value
The main advantage of trading using opposite Scandinavian Investment and BankInvest Value positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Scandinavian Investment position performs unexpectedly, BankInvest Value 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 Value will offset losses from the drop in BankInvest Value's long position.Scandinavian Investment vs. North Media AS | Scandinavian Investment vs. Rovsing AS | Scandinavian Investment vs. Alm Brand | Scandinavian Investment vs. SKAKO AS |
BankInvest Value vs. Carnegie Wealth Management | BankInvest Value vs. Formuepleje Mix Medium | BankInvest Value vs. TROPHY GAMES Development | BankInvest Value vs. Dataproces Group AS |
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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