Correlation Between PFA Invest and DOW

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

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

Diversification Opportunities for PFA Invest and DOW

  Correlation Coefficient
PFA Invest Udenlandske

Pay attention - limited upside

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

Pair Corralation between PFA Invest and DOW

If you would invest  2,267,999  in DOW on June 5, 2020 and sell it today you would earn a total of  314,737  from holding DOW or generate 13.88% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns

PFA Invest Udenlandske Obl  vs.  DOW

 Performance (%) 
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