Correlation Between DKINMAKK and International Business
Specify exactly 2 symbols:
By analyzing existing cross correlation between Investeringsforeningen Danske Invest and International Business Machines, you can compare the effects of market volatilities on DKINMAKK and International Business 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 DKINMAKK with a short position of International Business. Check out your portfolio center. Please also check ongoing floating volatility patterns of DKINMAKK and International Business.
Diversification Opportunities for DKINMAKK and International Business
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between DKINMAKK and International is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Investeringsforeningen Danske and International Business Machine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on International Business and DKINMAKK 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 International Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Business has no effect on the direction of DKINMAKK i.e., DKINMAKK and International Business go up and down completely randomly.
Pair Corralation between DKINMAKK and International Business
If you would invest 12,532 in International Business Machines on January 26, 2024 and sell it today you would earn a total of 5,878 from holding International Business Machines or generate 46.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
Investeringsforeningen Danske vs. International Business Machine
Performance |
| Timeline |
| Investeringsforeningen |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| International Business |
DKINMAKK and International Business Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DKINMAKK and International Business
The main advantage of trading using opposite DKINMAKK and International Business positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DKINMAKK position performs unexpectedly, International Business 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 International Business will offset losses from the drop in International Business' long position.| DKINMAKK vs. Lollands Bank | DKINMAKK vs. Jyske Bank AS | DKINMAKK vs. Dataproces Group AS | DKINMAKK vs. Alefarm Brewing AS |
| International Business vs. FiscalNote Holdings | International Business vs. Innodata | International Business vs. Aurora Innovation | International Business vs. Conduent |
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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