Correlation Between Groupama Entreprises and Templeton Global
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By analyzing existing cross correlation between Groupama Entreprises N and Templeton Global Bond, you can compare the effects of market volatilities on Groupama Entreprises and Templeton Global 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 Templeton Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Groupama Entreprises and Templeton Global.
Diversification Opportunities for Groupama Entreprises and Templeton Global
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Groupama and Templeton is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Groupama Entreprises N and Templeton Global Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Templeton Global Bond 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 Templeton Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Templeton Global Bond has no effect on the direction of Groupama Entreprises i.e., Groupama Entreprises and Templeton Global go up and down completely randomly.
Pair Corralation between Groupama Entreprises and Templeton Global
Assuming the 90 days trading horizon Groupama Entreprises N is expected to generate 0.03 times more return on investment than Templeton Global. However, Groupama Entreprises N is 30.27 times less risky than Templeton Global. It trades about 0.99 of its potential returns per unit of risk. Templeton Global Bond is currently generating about 0.0 per unit of risk. If you would invest 55,761 in Groupama Entreprises N on December 4, 2024 and sell it today you would earn a total of 3,961 from holding Groupama Entreprises N or generate 7.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 53.11% |
| Values | Daily Returns |
Groupama Entreprises N vs. Templeton Global Bond
Performance |
| Timeline |
| Groupama Entreprises |
| Templeton Global Bond |
Groupama Entreprises and Templeton Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Groupama Entreprises and Templeton Global
The main advantage of trading using opposite Groupama Entreprises and Templeton Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Groupama Entreprises position performs unexpectedly, Templeton Global 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 Templeton Global will offset losses from the drop in Templeton Global's long position.| Groupama Entreprises vs. Esfera Robotics R | Groupama Entreprises vs. R co Valor F | Groupama Entreprises vs. CM AM Monplus NE | Groupama Entreprises vs. IE00B0H4TS55 |
| Templeton Global vs. Templeton Asian Bond | Templeton Global vs. Templeton Global Bond | Templeton Global vs. Esfera Robotics R | Templeton Global vs. R co Valor F |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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