Correlation Between Sparindex INDEX and Genmab AS
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By analyzing existing cross correlation between Sparindex INDEX Stabile and Genmab AS, you can compare the effects of market volatilities on Sparindex INDEX 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 Sparindex INDEX with a short position of Genmab AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparindex INDEX and Genmab AS.
Diversification Opportunities for Sparindex INDEX and Genmab AS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sparindex and Genmab is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sparindex INDEX Stabile and Genmab AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genmab AS and Sparindex INDEX 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 Sparindex INDEX Stabile 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 Sparindex INDEX i.e., Sparindex INDEX and Genmab AS go up and down completely randomly.
Pair Corralation between Sparindex INDEX and Genmab AS
If you would invest (100.00) in Sparindex INDEX Stabile on January 25, 2024 and sell it today you would earn a total of 100.00 from holding Sparindex INDEX Stabile or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Sparindex INDEX Stabile vs. Genmab AS
Performance |
Timeline |
Sparindex INDEX Stabile |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
Genmab AS |
Sparindex INDEX and Genmab AS Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Sparindex INDEX and Genmab AS
The main advantage of trading using opposite Sparindex INDEX and Genmab AS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparindex INDEX position performs unexpectedly, Genmab AS 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 Genmab AS will offset losses from the drop in Genmab AS's long position.Sparindex INDEX vs. Sparinvest Lange | Sparindex INDEX vs. Investeringsforeningen Danske Invest | Sparindex INDEX vs. Sparinv SICAV | Sparindex INDEX vs. Sparinvest Value Emerging |
Genmab AS vs. Ambu AS | Genmab AS vs. DSV Panalpina AS | Genmab AS vs. Bavarian Nordic | Genmab AS vs. GN Store Nord |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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