Correlation Between BankInvest Virksomhedsoblig and Genmab AS
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By analyzing existing cross correlation between BankInvest Virksomhedsobligatione and Genmab AS, you can compare the effects of market volatilities on BankInvest Virksomhedsoblig 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 Virksomhedsoblig with a short position of Genmab AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Virksomhedsoblig and Genmab AS.
Diversification Opportunities for BankInvest Virksomhedsoblig and Genmab AS
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BankInvest and Genmab is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Virksomhedsobligati and Genmab AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genmab AS and BankInvest Virksomhedsoblig 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 Virksomhedsobligatione 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 Virksomhedsoblig i.e., BankInvest Virksomhedsoblig and Genmab AS go up and down completely randomly.
Pair Corralation between BankInvest Virksomhedsoblig and Genmab AS
Assuming the 90 days trading horizon BankInvest Virksomhedsobligatione is expected to generate 0.25 times more return on investment than Genmab AS. However, BankInvest Virksomhedsobligatione is 4.03 times less risky than Genmab AS. It trades about 0.03 of its potential returns per unit of risk. Genmab AS is currently generating about -0.02 per unit of risk. If you would invest 7,166 in BankInvest Virksomhedsobligatione on January 20, 2024 and sell it today you would earn a total of 14.00 from holding BankInvest Virksomhedsobligatione or generate 0.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BankInvest Virksomhedsobligati vs. Genmab AS
Performance |
| Timeline |
| BankInvest Virksomhedsoblig |
| Genmab AS |
BankInvest Virksomhedsoblig and Genmab AS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Virksomhedsoblig and Genmab AS
The main advantage of trading using opposite BankInvest Virksomhedsoblig and Genmab AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Virksomhedsoblig 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 Virksomhedsoblig vs. Jyske Invest Nye | BankInvest Virksomhedsoblig vs. Jyske Invest Nye | BankInvest Virksomhedsoblig vs. Jyske Invest Hjt | BankInvest Virksomhedsoblig vs. Jyske Invest Lange |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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