Correlation Between DKIGLIADKKH and ATT
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By analyzing existing cross correlation between Investeringsforeningen Danske Invest and ATT Inc, you can compare the effects of market volatilities on DKIGLIADKKH and ATT 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 DKIGLIADKKH with a short position of ATT. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKIGLIADKKH and ATT.
Diversification Opportunities for DKIGLIADKKH and ATT
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between DKIGLIADKKH and ATT is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske and ATT Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATT Inc and DKIGLIADKKH 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 ATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT Inc has no effect on the direction of DKIGLIADKKH i.e., DKIGLIADKKH and ATT go up and down completely randomly.
Pair Corralation between DKIGLIADKKH and ATT
Assuming the 90 days trading horizon Investeringsforeningen Danske Invest is expected to under-perform the ATT. But the stock apears to be less risky and, when comparing its historical volatility, Investeringsforeningen Danske Invest is 2.33 times less risky than ATT. The stock trades about -0.22 of its potential returns per unit of risk. The ATT Inc is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 1,684 in ATT Inc on January 25, 2024 and sell it today you would lose (2.00) from holding ATT Inc or give up 0.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 90.91% |
| Values | Daily Returns |
Investeringsforeningen Danske vs. ATT Inc
Performance |
| Timeline |
| Investeringsforeningen |
| ATT Inc |
DKIGLIADKKH and ATT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DKIGLIADKKH and ATT
The main advantage of trading using opposite DKIGLIADKKH and ATT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKIGLIADKKH position performs unexpectedly, ATT 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 ATT will offset losses from the drop in ATT's long position.| DKIGLIADKKH vs. Novo Nordisk AS | DKIGLIADKKH vs. Nordea Bank Abp | DKIGLIADKKH vs. DSV Panalpina AS | DKIGLIADKKH vs. AP Mller |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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