Correlation Between BankInvest Emerging and Genmab AS
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By analyzing existing cross correlation between BankInvest Emerging and Genmab AS, you can compare the effects of market volatilities on BankInvest Emerging and Genmab 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 BankInvest Emerging with a short position of Genmab AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Emerging and Genmab AS.
Diversification Opportunities for BankInvest Emerging and Genmab AS
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between BankInvest and Genmab is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Emerging and Genmab AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genmab AS and BankInvest Emerging 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 BankInvest Emerging are associated (or correlated) with Genmab AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genmab AS has no effect on the direction of BankInvest Emerging i.e., BankInvest Emerging and Genmab AS go up and down completely randomly.
Pair Corralation between BankInvest Emerging and Genmab AS
Assuming the 90 days trading horizon BankInvest Emerging is expected to generate 0.19 times more return on investment than Genmab AS. However, BankInvest Emerging is 5.26 times less risky than Genmab AS. It trades about -0.26 of its potential returns per unit of risk. Genmab AS is currently generating about -0.3 per unit of risk. If you would invest 16,735 in BankInvest Emerging on January 26, 2024 and sell it today you would lose (200.00) from holding BankInvest Emerging or give up 1.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInvest Emerging vs. Genmab AS
Performance |
| Timeline |
| BankInvest Emerging |
| Genmab AS |
BankInvest Emerging and Genmab AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Emerging and Genmab AS
The main advantage of trading using opposite BankInvest Emerging and Genmab AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Emerging position performs unexpectedly, Genmab 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 Genmab AS will offset losses from the drop in Genmab AS's long position.| BankInvest Emerging vs. Jyske Invest Nye | BankInvest Emerging vs. Jyske Invest Nye | BankInvest Emerging vs. Jyske Invest Hjt | BankInvest Emerging vs. Jyske Invest Lange |
| Genmab AS vs. Ambu AS | Genmab AS vs. DSV Panalpina AS | Genmab AS vs. Bavarian Nordic | Genmab AS vs. GN Store Nord |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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