Correlation Between DKINYM and DKIEUHUAKLDKK
Specify exactly 2 symbols:
By analyzing existing cross correlation between Investeringsforeningen Danske Invest and Investeringsforeningen Danske Invest, you can compare the effects of market volatilities on DKINYM and DKIEUHUAKLDKK 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 DKINYM with a short position of DKIEUHUAKLDKK. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKINYM and DKIEUHUAKLDKK.
Diversification Opportunities for DKINYM and DKIEUHUAKLDKK
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between DKINYM and DKIEUHUAKLDKK is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske and Investeringsforeningen Danske in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsforeningen and DKINYM 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 Investeringsforeningen Danske Invest are associated (or correlated) with DKIEUHUAKLDKK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsforeningen has no effect on the direction of DKINYM i.e., DKINYM and DKIEUHUAKLDKK go up and down completely randomly.
Pair Corralation between DKINYM and DKIEUHUAKLDKK
Assuming the 90 days trading horizon Investeringsforeningen Danske Invest is expected to generate 1.37 times more return on investment than DKIEUHUAKLDKK. However, DKINYM is 1.37 times more volatile than Investeringsforeningen Danske Invest. It trades about 0.16 of its potential returns per unit of risk. Investeringsforeningen Danske Invest is currently generating about -0.02 per unit of risk. If you would invest 18,830 in Investeringsforeningen Danske Invest on September 6, 2024 and sell it today you would earn a total of 1,622 from holding Investeringsforeningen Danske Invest or generate 8.61% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Investeringsforeningen Danske vs. Investeringsforeningen Danske
Performance |
Timeline |
Investeringsforeningen |
Investeringsforeningen |
DKINYM and DKIEUHUAKLDKK Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with DKINYM and DKIEUHUAKLDKK
The main advantage of trading using opposite DKINYM and DKIEUHUAKLDKK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKINYM position performs unexpectedly, DKIEUHUAKLDKK 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 DKIEUHUAKLDKK will offset losses from the drop in DKIEUHUAKLDKK's long position.DKINYM vs. Jyske Invest Nye | DKINYM vs. Jyske Invest Korte | DKINYM vs. Jyske Invest Nye | DKINYM vs. Jyske Invest Virksomhedsobligationer |
DKIEUHUAKLDKK vs. Sparinvest Lange | DKIEUHUAKLDKK vs. Sparinv SICAV | DKIEUHUAKLDKK vs. Investeringsforeningen Danske Invest |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |