Correlation Between XpresSpa and Nykredit Invest

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

Specify exactly 2 symbols:

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

Diversification Opportunities for XpresSpa and Nykredit Invest

0.37
  Correlation Coefficient
XpresSpa Group
Nykredit Invest Bala

Weak diversification

The 3 months correlation between XpresSpa and Nykredit is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding XpresSpa Group Inc and Nykredit Invest Balanced Risk in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Nykredit Invest Bala and XpresSpa 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 XpresSpa Group 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 Bala has no effect on the direction of XpresSpa i.e. XpresSpa and Nykredit Invest go up and down completely randomly.

Pair Corralation between XpresSpa and Nykredit Invest

If you would invest  36.00  in XpresSpa Group on June 14, 2020 and sell it today you would earn a total of  312.00  from holding XpresSpa Group or generate 866.67% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy0.0%
ValuesDaily Returns

XpresSpa Group Inc  vs.  Nykredit Invest Balanced Risk

 Performance (%) 
      Timeline 
XpresSpa Group 
1616

XpresSpa Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in XpresSpa Group are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days. Despite somewhat abnormal basic indicators, XpresSpa sustained solid returns over the last few months and may actually be approaching a breakup point.
Nykredit Invest Bala 
00

Nykredit Invest Risk-Adjusted Performance

Over the last 30 days Nykredit Invest Balanced has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong technical and fundamental indicators, Nykredit Invest is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

XpresSpa and Nykredit Invest Volatility Contrast

 Predicted Return Density 
      Returns 
Check out your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.


 
Macroaxis is not a registered investment advisor or broker/dealer. All investments, including stocks, funds, ETFs, or cryptocurrencies, are speculative and involve substantial risk of loss. We encourage our investors to invest carefully. Much of our information is derived directly from data published by companies or submitted to governmental agencies which we believe are reliable, but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements or recommendations. Also, note that past performance is not necessarily indicative of future results. All investments carry risk, and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any investing they choose to do. Hypothetical or simulated performance is not indicative of future results. We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown because hypothetical or simulated performance is not necessarily indicative of future results. For more information please visit our terms and condition page