Correlation Between Copenhagen Airports and DFDS AS

Can any of the company-specific risk be diversified away by investing in both Copenhagen Airports and DFDS AS at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Copenhagen Airports and DFDS AS into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Copenhagen Airports AS and DFDS AS, you can compare the effects of market volatilities on Copenhagen Airports and DFDS AS 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 Copenhagen Airports with a short position of DFDS AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Copenhagen Airports and DFDS AS.

Diversification Opportunities for Copenhagen Airports and DFDS AS

0.0

Correlation Coefficient

Copenhagen Airports  DFDS AS

Pay attention - limited upside

The 3 months correlation between Copenhagen and DFDS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Copenhagen Airports AS and DFDS AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DFDS AS and Copenhagen Airports 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 Copenhagen Airports AS are associated (or correlated) with DFDS AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DFDS AS has no effect on the direction of Copenhagen Airports i.e., Copenhagen Airports and DFDS AS go up and down completely randomly.

Pair Corralation between Copenhagen Airports and DFDS AS

If you would invest  9,080  in DFDS AS on April 23, 2025 and sell it today you would earn a total of  2,670  from holding DFDS AS or generate 29.41% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	1.64%
Values	Daily Returns

Copenhagen Airports AS  vs.  DFDS AS

Copenhagen Airports

Risk-Adjusted Performance

Very Weak

Over the last 90 days Copenhagen Airports AS has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Copenhagen Airports is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

DFDS AS

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in DFDS AS are ranked lower than 21 (%) of all global equities and portfolios over the last 90 days. In spite of very unfluctuating basic indicators, DFDS AS displayed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Copenhagen Airports and DFDS AS

The main advantage of trading using opposite Copenhagen Airports and DFDS AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Copenhagen Airports position performs unexpectedly, DFDS AS 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 DFDS AS will offset losses from the drop in DFDS AS's long position.

The idea behind Copenhagen Airports AS and DFDS AS pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..