Correlation Between Jyske Invest and Genmab AS

By analyzing existing cross correlation between Jyske Invest Fjernsten and Genmab AS you can compare the effects of market volatilities on Jyske Invest 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 Jyske Invest with a short position of Genmab AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jyske Invest and Genmab AS.

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Can any of the company-specific risk be diversified away by investing in both Jyske Invest and Genmab AS at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing Jyske Invest and Genmab AS into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for Jyske Invest and Genmab AS

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Correlation
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Pay attention - limited upside

The 3 months correlation between Jyske and Genmab is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jyske Invest Fjernsten Aktier and Genmab AS in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Genmab AS and Jyske 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 Jyske Invest Fjernsten 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 Jyske Invest i.e. Jyske Invest and Genmab AS go up and down completely randomly.

Pair Corralation between Jyske Invest and Genmab AS

If you would invest  170,150  in Genmab AS on April 24, 2020 and sell it today you would earn a total of  32,650  from holding Genmab AS or generate 19.19% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Jyske Invest Fjernsten Aktier   vs.  Genmab AS

 Performance (%) 
      Timeline 
Jyske Invest Fjernsten 
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Jyske Invest Risk-Adjusted Performance

Over the last 30 days Jyske Invest Fjernsten has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, Jyske Invest is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.
Genmab AS 
77

Genmab AS Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Genmab AS are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Allthough quite weak forward indicators, Genmab AS disclosed solid returns over the last few months and may actually be approaching a breakup point.

Jyske Invest and Genmab AS Volatility Contrast

Check out your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
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