Correlation Between Groupama Entreprises and Lyxor 1
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By analyzing existing cross correlation between Groupama Entreprises N and Lyxor 1 , you can compare the effects of market volatilities on Groupama Entreprises and Lyxor 1 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 Groupama Entreprises with a short position of Lyxor 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Groupama Entreprises and Lyxor 1.
Diversification Opportunities for Groupama Entreprises and Lyxor 1
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Groupama and Lyxor is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Groupama Entreprises N and Lyxor 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lyxor 1 and Groupama Entreprises 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 Groupama Entreprises N are associated (or correlated) with Lyxor 1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lyxor 1 has no effect on the direction of Groupama Entreprises i.e., Groupama Entreprises and Lyxor 1 go up and down completely randomly.
Pair Corralation between Groupama Entreprises and Lyxor 1
Assuming the 90 days trading horizon Groupama Entreprises N is expected to generate 0.02 times more return on investment than Lyxor 1. However, Groupama Entreprises N is 62.15 times less risky than Lyxor 1. It trades about 0.86 of its potential returns per unit of risk. Lyxor 1 is currently generating about 0.0 per unit of risk. If you would invest 58,984 in Groupama Entreprises N on August 30, 2024 and sell it today you would earn a total of 290.00 from holding Groupama Entreprises N or generate 0.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Groupama Entreprises N vs. Lyxor 1
Performance |
| Timeline |
| Groupama Entreprises |
| Lyxor 1 |
Groupama Entreprises and Lyxor 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Groupama Entreprises and Lyxor 1
The main advantage of trading using opposite Groupama Entreprises and Lyxor 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Groupama Entreprises position performs unexpectedly, Lyxor 1 can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Lyxor 1 will offset losses from the drop in Lyxor 1's long position.| Groupama Entreprises vs. Lyxor 1 | Groupama Entreprises vs. Xtrackers ShortDAX | Groupama Entreprises vs. Xtrackers LevDAX |
| Lyxor 1 vs. Lyxor Fed Funds | Lyxor 1 vs. Lyxor BofAML USD | Lyxor 1 vs. Lyxor 1 TecDAX | Lyxor 1 vs. Lyxor UCITS EuroMTS |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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