Correlation Between Nykredit Invest and Genmab AS

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

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

Diversification Opportunities for Nykredit Invest and Genmab AS

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Correlation
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Pay attention - limited upside

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

Pair Corralation between Nykredit Invest and Genmab AS

If you would invest (100.00)  in Genmab AS on May 1, 2020 and sell it today you would earn a total of  100.00  from holding Genmab AS or generate -100.0% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Nykredit Invest Kreditobligati  vs.  Genmab AS

 Performance (%) 
      Timeline 
Nykredit Invest Kred 
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Nykredit Invest Risk-Adjusted Performance

Over the last 30 days Nykredit Invest Kreditobligatio has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Nykredit Invest is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Genmab AS 
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Genmab AS Risk-Adjusted Performance

Over the last 30 days Genmab AS has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, Genmab AS is not utilizing all of its potentials. The current stock price mess, may contribute to short term losses for the partners.

Nykredit 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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