Correlation Between Vestas Wind and Maj Invest
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By analyzing existing cross correlation between Vestas Wind Systems and Maj Invest Glob, you can compare the effects of market volatilities on Vestas Wind 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 Vestas Wind with a short position of Maj Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vestas Wind and Maj Invest.
Diversification Opportunities for Vestas Wind and Maj Invest
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Vestas and Maj is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Vestas Wind Systems and Maj Invest Glob in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maj Invest Glob and Vestas Wind 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 Vestas Wind Systems 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 Glob has no effect on the direction of Vestas Wind i.e., Vestas Wind and Maj Invest go up and down completely randomly.
Pair Corralation between Vestas Wind and Maj Invest
Assuming the 90 days trading horizon Vestas Wind Systems is expected to under-perform the Maj Invest. In addition to that, Vestas Wind is 6.25 times more volatile than Maj Invest Glob. It trades about -0.12 of its total potential returns per unit of risk. Maj Invest Glob is currently generating about -0.34 per unit of volatility. If you would invest 14,260 in Maj Invest Glob on September 24, 2024 and sell it today you would lose (535.00) from holding Maj Invest Glob or give up 3.75% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Vestas Wind Systems vs. Maj Invest Glob
Performance |
Timeline |
Vestas Wind Systems |
Maj Invest Glob |
Vestas Wind and Maj Invest Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Vestas Wind and Maj Invest
The main advantage of trading using opposite Vestas Wind and Maj Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vestas Wind 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.Vestas Wind vs. Orsted AS | Vestas Wind vs. Danske Bank AS | Vestas Wind vs. Bavarian Nordic | Vestas Wind vs. DSV Panalpina AS |
Maj Invest vs. Novo Nordisk AS | Maj Invest vs. Nordea Bank Abp | Maj Invest vs. DSV Panalpina AS | Maj Invest 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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