BNP Paribas Correlations

VLED Etf

EUR 170.38 3.02 1.80%

The current 90-days correlation between BNP Paribas Easy and Lyxor UCITS Stoxx is -0.01 (i.e., Good diversification). The correlation of BNP Paribas is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

BNP Paribas Correlation With Market

Poor diversification

The correlation between BNP Paribas Easy and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNP Paribas Easy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BNP Paribas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BNP Paribas when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BNP Paribas - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BNP Paribas Easy to buy it.

Moving together with BNP Etf

0.82	CEU	Amundi Index Solutions	Pair Corr
0.82	CEU2	Amundi Index Solutions	Pair Corr
0.83	MEU	Lyxor UCITS MSCI	Pair Corr
0.85	SRIE	BNP Paribas Easy	Pair Corr
0.85	SRIEC	BNP Paribas Easy	Pair Corr
0.82	ETZD	BNP Paribas Easy	Pair Corr
0.83	ETZ	BNP Paribas Easy	Pair Corr
0.82	MEUD	Amundi Stoxx Europe	Pair Corr
0.76	ECN	BNP Paribas Easy	Pair Corr
0.73	CAC	Amundi CAC 40	Pair Corr
0.75	GBS	Gold Bullion Securities	Pair Corr
0.72	CACC	Lyxor CAC 40	Pair Corr
0.63	EMLD	SSgA SPDR ETFs	Pair Corr
0.85	EBBB	Amundi Index Solutions	Pair Corr
0.87	NRJ	Multi Units France	Pair Corr
0.8	VALD	BNP Paribas Easy	Pair Corr
0.77	DFND	iShares Global Aerospace	Pair Corr
0.75	COSW	Amundi SP Global	Pair Corr
0.73	VVMX	VanEck Rare Earth	Pair Corr
0.88	EEMK	BNP Paribas Easy	Pair Corr
0.82	CU9	Amundi ETF MSCI	Pair Corr
0.77	UBBB	Amundi Index Solutions	Pair Corr
0.74	GUARD	BNP Paribas Easy	Pair Corr
0.72	FMI	Amundi Index Solutions	Pair Corr
0.74	BULLP	WisdomTree Gold EUR	Pair Corr
0.78	CMU	Amundi MSCI EMU	Pair Corr
0.87	EPRA	Amundi Index Solutions	Pair Corr
0.67	EMEH	BNP Paribas Easy	Pair Corr
0.8	PLEM	Lyxor PEA MSCI	Pair Corr
0.82	HEU	HSBC MSCI Europe	Pair Corr
0.78	SMC	SPDR MSCI Europe	Pair Corr
0.75	MIB	Lyxor FTSE MIB	Pair Corr
0.76	PABZ	Amundi MSCI EMU	Pair Corr
0.84	AWAT	Amundi PEA Eau	Pair Corr

Related Correlations Analysis

	CV9	PAASI	DJE	PAEEM	MMS	APX	PANX	EJAH	SEL
CV9		0.88	0.77	0.9	0.95	0.88	-0.45	0.93	0.98	CV9
PAASI	0.88		0.74	1.0	0.93	1.0	-0.34	0.92	0.88	PAASI
DJE	0.77	0.74		0.73	0.85	0.73	-0.03	0.81	0.79	DJE
PAEEM	0.9	1.0	0.73		0.94	0.99	-0.38	0.93	0.9	PAEEM
MMS	0.95	0.93	0.85	0.94		0.93	-0.26	0.91	0.96	MMS
APX	0.88	1.0	0.73	0.99	0.93		-0.35	0.92	0.88	APX
PANX	-0.45	-0.34	-0.03	-0.38	-0.26	-0.35		-0.44	-0.38	PANX
EJAH	0.93	0.92	0.81	0.93	0.91	0.92	-0.44		0.89	EJAH
SEL	0.98	0.88	0.79	0.9	0.96	0.88	-0.38	0.89		SEL
	CV9	PAASI	DJE	PAEEM	MMS	APX	PANX	EJAH	SEL

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PAEEM	+ 1.0	PAASI
APX	+ 1.0	PAASI
APX	+ 0.99	PAEEM
SEL	+ 0.98	CV9
SEL	+ 0.96	MMS
MMS	+ 0.95	CV9

High negative correlations

PANX	- 0.45	CV9
EJAH	- 0.44	PANX
SEL	- 0.38	PANX
PANX	- 0.38	PAEEM
PANX	- 0.35	APX
PANX	- 0.34	PAASI

BNP Paribas Constituents Risk-Adjusted Indicators

There is a big difference between BNP Etf performing well and BNP Paribas ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze BNP Paribas' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CV9	0.46	0.11	0.10	2.43	0.56	(0.48)	0.91	(1.02)	2.66
PAASI	0.71	0.14	0.09	(0.93)	0.76	(0.74)	1.66	(1.57)	4.93
DJE	0.52	0.03	(0.03)	(0.16)	0.56	(0.65)	1.40	(1.08)	3.49
PAEEM	0.67	0.14	0.13	(1.41)	0.53	(0.79)	1.67	(1.15)	3.35
MMS	0.54	0.09	0.08	0.69	0.51	(0.61)	1.03	(1.13)	2.93
APX	0.69	0.12	0.09	(3.55)	0.66	(0.77)	1.52	(1.23)	4.11
PANX	0.82	(0.05)	0.00	0.24	0.00	0.00	1.80	(1.87)	5.49
EJAH	0.82	0.19	0.14	(3.76)	0.73	(0.96)	2.07	(1.49)	4.87
SEL	0.50	0.13	0.11	1.94	0.60	(0.51)	1.15	(0.97)	3.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in BNP Paribas without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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