Correlation Between Synchrony Swiss and Julius Baer
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By analyzing existing cross correlation between Synchrony Swiss Real and Julius Baer Edelweiss, you can compare the effects of market volatilities on Synchrony Swiss and Julius Baer 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 Synchrony Swiss with a short position of Julius Baer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Synchrony Swiss and Julius Baer.
Diversification Opportunities for Synchrony Swiss and Julius Baer
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Synchrony and Julius is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Synchrony Swiss Real and Julius Baer Edelweiss in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Julius Baer Edelweiss and Synchrony Swiss 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 Synchrony Swiss Real are associated (or correlated) with Julius Baer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Julius Baer Edelweiss has no effect on the direction of Synchrony Swiss i.e., Synchrony Swiss and Julius Baer go up and down completely randomly.
Pair Corralation between Synchrony Swiss and Julius Baer
Assuming the 90 days trading horizon Synchrony Swiss Real is expected to generate 0.61 times more return on investment than Julius Baer. However, Synchrony Swiss Real is 1.63 times less risky than Julius Baer. It trades about 0.17 of its potential returns per unit of risk. Julius Baer Edelweiss is currently generating about -0.01 per unit of risk. If you would invest 11,188 in Synchrony Swiss Real on September 19, 2024 and sell it today you would earn a total of 1,108 from holding Synchrony Swiss Real or generate 9.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Synchrony Swiss Real vs. Julius Baer Edelweiss
Performance |
| Timeline |
| Synchrony Swiss Real |
| Julius Baer Edelweiss |
Synchrony Swiss and Julius Baer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Synchrony Swiss and Julius Baer
The main advantage of trading using opposite Synchrony Swiss and Julius Baer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Synchrony Swiss position performs unexpectedly, Julius Baer 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 Julius Baer will offset losses from the drop in Julius Baer's long position.| Synchrony Swiss vs. SPDR Dow Jones | Synchrony Swiss vs. Baloise Holding AG | Synchrony Swiss vs. Banque Cantonale du | Synchrony Swiss vs. 21Shares Polkadot ETP |
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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