Correlation Between Julius Baer and Baloise Swiss
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By analyzing existing cross correlation between Julius Baer Edelweiss and Baloise Swiss Property, you can compare the effects of market volatilities on Julius Baer and Baloise Swiss 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 Julius Baer with a short position of Baloise Swiss. Check out your portfolio center. Please also check ongoing floating volatility patterns of Julius Baer and Baloise Swiss.
Diversification Opportunities for Julius Baer and Baloise Swiss
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Julius and Baloise is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Julius Baer Edelweiss and Baloise Swiss Property in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baloise Swiss Property and Julius Baer 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 Julius Baer Edelweiss are associated (or correlated) with Baloise Swiss. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baloise Swiss Property has no effect on the direction of Julius Baer i.e., Julius Baer and Baloise Swiss go up and down completely randomly.
Pair Corralation between Julius Baer and Baloise Swiss
Assuming the 90 days trading horizon Julius Baer Edelweiss is expected to generate 0.85 times more return on investment than Baloise Swiss. However, Julius Baer Edelweiss is 1.18 times less risky than Baloise Swiss. It trades about 0.06 of its potential returns per unit of risk. Baloise Swiss Property is currently generating about 0.01 per unit of risk. If you would invest 12,382 in Julius Baer Edelweiss on September 20, 2024 and sell it today you would earn a total of 2,610 from holding Julius Baer Edelweiss or generate 21.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Julius Baer Edelweiss vs. Baloise Swiss Property
Performance |
| Timeline |
| Julius Baer Edelweiss |
| Baloise Swiss Property |
Julius Baer and Baloise Swiss Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Julius Baer and Baloise Swiss
The main advantage of trading using opposite Julius Baer and Baloise Swiss positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Julius Baer position performs unexpectedly, Baloise Swiss 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 Baloise Swiss will offset losses from the drop in Baloise Swiss' long position.The idea behind Julius Baer Edelweiss and Baloise Swiss Property pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Baloise Swiss vs. SPDR Dow Jones | Baloise Swiss vs. Baloise Holding AG | Baloise Swiss vs. Banque Cantonale du | Baloise 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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