Correlation Between Maj Invest and Danske Invest
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By analyzing existing cross correlation between Maj Invest Pension and Danske Invest , you can compare the effects of market volatilities on Maj Invest and Danske 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 Maj Invest with a short position of Danske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maj Invest and Danske Invest.
Diversification Opportunities for Maj Invest and Danske Invest
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Maj and Danske is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Maj Invest Pension and Danske Invest in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Danske Invest and Maj Invest 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 Maj Invest Pension are associated (or correlated) with Danske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Danske Invest has no effect on the direction of Maj Invest i.e., Maj Invest and Danske Invest go up and down completely randomly.
Pair Corralation between Maj Invest and Danske Invest
Assuming the 90 days trading horizon Maj Invest Pension is expected to under-perform the Danske Invest. In addition to that, Maj Invest is 6.23 times more volatile than Danske Invest . It trades about -0.08 of its total potential returns per unit of risk. Danske Invest is currently generating about 0.05 per unit of volatility. If you would invest 8,763 in Danske Invest on April 2, 2025 and sell it today you would earn a total of 105.00 from holding Danske Invest or generate 1.2% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Maj Invest Pension vs. Danske Invest
Performance |
Timeline |
Maj Invest Pension |
Danske Invest |
Maj Invest and Danske Invest Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Maj Invest and Danske Invest
The main advantage of trading using opposite Maj Invest and Danske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maj Invest position performs unexpectedly, Danske 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 Danske Invest will offset losses from the drop in Danske Invest's long position.Maj Invest vs. Jyske Bank AS | Maj Invest vs. Nordea Bank Abp | Maj Invest vs. Lollands Bank | Maj Invest vs. Kreditbanken AS |
Danske Invest vs. Groenlandsbanken AS | Danske Invest vs. Kreditbanken AS | Danske Invest vs. Djurslands Bank | Danske Invest vs. Spar Nord Bank |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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