Correlation Between Julius Baer and Dow Jones
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By analyzing existing cross correlation between Julius Baer Edelweiss and Dow Jones Industrial, you can compare the effects of market volatilities on Julius Baer and Dow Jones 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 Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Julius Baer and Dow Jones.
Diversification Opportunities for Julius Baer and Dow Jones
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Julius and Dow is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Julius Baer Edelweiss and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Julius Baer i.e., Julius Baer and Dow Jones go up and down completely randomly.
Pair Corralation between Julius Baer and Dow Jones
Assuming the 90 days trading horizon Julius Baer Edelweiss is expected to generate 0.88 times more return on investment than Dow Jones. However, Julius Baer Edelweiss is 1.13 times less risky than Dow Jones. It trades about -0.05 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about -0.29 per unit of risk. If you would invest 15,011 in Julius Baer Edelweiss on September 25, 2024 and sell it today you would lose (99.00) from holding Julius Baer Edelweiss or give up 0.66% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Julius Baer Edelweiss vs. Dow Jones Industrial
Performance |
| Timeline |
Julius Baer and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Julius Baer Edelweiss
Pair trading matchups for Julius Baer
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Julius Baer and Dow Jones
The main advantage of trading using opposite Julius Baer and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Julius Baer position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Julius Baer vs. CSIF III Eq | Julius Baer vs. UBS Property | Julius Baer vs. Procimmo Real Estate | Julius Baer vs. Baloise Holding AG |
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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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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