Two Equities Correlation Analysis

This model provides you with a quick lookup of cross correlation between two equities. Please specify two instruments to run the correlation.

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

Diversification Opportunities for Sydinvest Virksomhedsobl and DOW

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Correlation
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DOW

Pay attention - limited upside

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

If you would invest  2,540,936  in DOW on April 28, 2020 and sell it today you would earn a total of  13,891  from holding DOW or generate 0.55% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Sydinvest Virksomhedsobl HY A   vs.  DOW

 Performance (%) 
      Timeline 
Check out your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.


 
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