Correlation Between Sydbank AS and BankInvest Value
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sydbank AS and BankInvest Value Globale, you can compare the effects of market volatilities on Sydbank AS 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 Sydbank AS with a short position of BankInvest Value. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sydbank AS and BankInvest Value.
Diversification Opportunities for Sydbank AS and BankInvest Value
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sydbank and BankInvest is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Sydbank AS 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 Sydbank AS 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 Sydbank AS 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 Sydbank AS i.e., Sydbank AS and BankInvest Value go up and down completely randomly.
Pair Corralation between Sydbank AS and BankInvest Value
Assuming the 90 days trading horizon Sydbank AS is expected to generate 1.92 times more return on investment than BankInvest Value. However, Sydbank AS is 1.92 times more volatile than BankInvest Value Globale. It trades about 0.16 of its potential returns per unit of risk. BankInvest Value Globale is currently generating about 0.23 per unit of risk. If you would invest 33,260 in Sydbank AS on September 14, 2024 and sell it today you would earn a total of 4,560 from holding Sydbank AS or generate 13.71% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 82.81% |
Values | Daily Returns |
Sydbank AS vs. BankInvest Value Globale
Performance |
Timeline |
Sydbank AS |
BankInvest Value Globale |
Sydbank AS and BankInvest Value Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Sydbank AS and BankInvest Value
The main advantage of trading using opposite Sydbank AS and BankInvest Value positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sydbank AS 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.Sydbank AS vs. Jyske Bank AS | Sydbank AS vs. Tryg AS | Sydbank AS vs. FLSmidth Co | Sydbank AS vs. Nordea Bank Abp |
BankInvest Value vs. Nordinvestments AS | BankInvest Value vs. Formuepleje Mix Medium | BankInvest Value vs. Sydbank AS | BankInvest Value vs. Embla Medical hf |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |