Correlation Between Sparinvest Danske and ATT
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By analyzing existing cross correlation between Sparinvest Danske Aktier and ATT Inc, you can compare the effects of market volatilities on Sparinvest Danske 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 Sparinvest Danske with a short position of ATT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest Danske and ATT.
Diversification Opportunities for Sparinvest Danske and ATT
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sparinvest and ATT is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest Danske Aktier and ATT Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATT Inc and Sparinvest Danske 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 Sparinvest Danske Aktier 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 Sparinvest Danske i.e., Sparinvest Danske and ATT go up and down completely randomly.
Pair Corralation between Sparinvest Danske and ATT
Assuming the 90 days trading horizon Sparinvest Danske Aktier is expected to generate 0.63 times more return on investment than ATT. However, Sparinvest Danske Aktier is 1.59 times less risky than ATT. It trades about -0.17 of its potential returns per unit of risk. ATT Inc is currently generating about -0.19 per unit of risk. If you would invest 22,510 in Sparinvest Danske Aktier on January 20, 2024 and sell it today you would lose (410.00) from holding Sparinvest Danske Aktier or give up 1.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Sparinvest Danske Aktier vs. ATT Inc
Performance |
| Timeline |
| Sparinvest Danske Aktier |
| ATT Inc |
Sparinvest Danske and ATT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest Danske and ATT
The main advantage of trading using opposite Sparinvest Danske and ATT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest Danske 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.| Sparinvest Danske vs. Jyske Invest Nye | Sparinvest Danske vs. Jyske Invest Nye | Sparinvest Danske vs. Jyske Invest Hjt | Sparinvest Danske vs. Jyske Invest Lange |
| ATT vs. Grab Holdings | ATT vs. Cadence Design Systems | ATT vs. Aquagold International | ATT vs. Thrivent High Yield |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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