Correlation Between Nordea Invest and Apple

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

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Can any of the company-specific risk be diversified away by investing in both Nordea Invest and Apple 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 Nordea Invest and Apple into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for Nordea Invest and Apple

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Correlation
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Pay attention - limited upside

The 3 months correlation between Nordea and Apple is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nordea Invest Fonde KL and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and Nordea 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 Nordea Invest Fonde are associated (or correlated) with Apple. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apple Inc has no effect on the direction of Nordea Invest i.e. Nordea Invest and Apple go up and down completely randomly.

Pair Corralation between Nordea Invest and Apple

If you would invest  29,818  in Apple Inc on April 24, 2020 and sell it today you would earn a total of  2,071  from holding Apple Inc or generate 6.95% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Nordea Invest Fonde KL  vs.  Apple Inc

 Performance (%) 
      Timeline 
Nordea Invest Fonde 
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Nordea Invest Risk-Adjusted Performance

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

Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Apple may actually be approaching a critical reversion point that can send shares even higher in June 2020.

Nordea Invest and Apple Volatility Contrast

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