Correlation Between GM and Nykredit Invest

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

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Can any of the company-specific risk be diversified away by investing in both GM and Nykredit Invest at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining GM and Nykredit Invest into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for GM and Nykredit Invest

0.0
  Correlation Coefficient
General Motors
Nykredit Invest Kred

Pay attention - limited upside

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

Pair Corralation between GM and Nykredit Invest

If you would invest  2,301  in General Motors on June 11, 2020 and sell it today you would earn a total of  138.00  from holding General Motors or generate 6.0% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

General Motors Company  vs.  Nykredit Invest Kreditobligati

 Performance (%) 
      Timeline 
General Motors 
22

GM Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in General Motors are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Even with considerably conflicting technical indicators, GM may actually be approaching a critical reversion point that can send shares even higher in August 2020.
Nykredit Invest Kred 
00

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.

GM and Nykredit Invest Volatility Contrast

Check out your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
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