Correlation Between Algebris UCITS and CM AM
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By analyzing existing cross correlation between Algebris UCITS Funds and CM AM Monplus NE, you can compare the effects of market volatilities on Algebris UCITS and CM AM 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 Algebris UCITS with a short position of CM AM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Algebris UCITS and CM AM.
Diversification Opportunities for Algebris UCITS and CM AM
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Algebris and 0P0001F96C is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Algebris UCITS Funds and CM AM Monplus NE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CM AM Monplus and Algebris UCITS 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 Algebris UCITS Funds are associated (or correlated) with CM AM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CM AM Monplus has no effect on the direction of Algebris UCITS i.e., Algebris UCITS and CM AM go up and down completely randomly.
Pair Corralation between Algebris UCITS and CM AM
Assuming the 90 days trading horizon Algebris UCITS Funds is expected to under-perform the CM AM. In addition to that, Algebris UCITS is 11.07 times more volatile than CM AM Monplus NE. It trades about -0.13 of its total potential returns per unit of risk. CM AM Monplus NE is currently generating about 1.17 per unit of volatility. If you would invest 10,577 in CM AM Monplus NE on August 30, 2024 and sell it today you would earn a total of 28.00 from holding CM AM Monplus NE or generate 0.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Algebris UCITS Funds vs. CM AM Monplus NE
Performance |
| Timeline |
| Algebris UCITS Funds |
| CM AM Monplus |
Algebris UCITS and CM AM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Algebris UCITS and CM AM
The main advantage of trading using opposite Algebris UCITS and CM AM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Algebris UCITS position performs unexpectedly, CM AM 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 CM AM will offset losses from the drop in CM AM's long position.| Algebris UCITS vs. Groupama Entreprises N | Algebris UCITS vs. Renaissance Europe C | Algebris UCITS vs. Superior Plus Corp | Algebris UCITS vs. Origin Agritech |
| CM AM vs. Esfera Robotics R | CM AM vs. R co Valor F | CM AM vs. IE00B0H4TS55 | CM AM vs. Echiquier Entrepreneurs G |
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