Correlation Between CM AM and Groupama Entreprises
Specify exactly 2 symbols:
By analyzing existing cross correlation between CM AM Monplus NE and Groupama Entreprises N, you can compare the effects of market volatilities on CM AM and Groupama Entreprises 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 CM AM with a short position of Groupama Entreprises. Check out your portfolio center. Please also check ongoing floating volatility patterns of CM AM and Groupama Entreprises.
Diversification Opportunities for CM AM and Groupama Entreprises
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between 0P0001F96C and Groupama is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding CM AM Monplus NE and Groupama Entreprises N in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupama Entreprises and CM AM 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 CM AM Monplus NE are associated (or correlated) with Groupama Entreprises. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupama Entreprises has no effect on the direction of CM AM i.e., CM AM and Groupama Entreprises go up and down completely randomly.
Pair Corralation between CM AM and Groupama Entreprises
Assuming the 90 days trading horizon CM AM Monplus NE is expected to generate 0.72 times more return on investment than Groupama Entreprises. However, CM AM Monplus NE is 1.38 times less risky than Groupama Entreprises. It trades about 1.38 of its potential returns per unit of risk. Groupama Entreprises N is currently generating about 0.95 per unit of risk. If you would invest 10,548 in CM AM Monplus NE on August 29, 2024 and sell it today you would earn a total of 56.00 from holding CM AM Monplus NE or generate 0.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 97.67% |
| Values | Daily Returns |
CM AM Monplus NE vs. Groupama Entreprises N
Performance |
| Timeline |
| CM AM Monplus |
| Groupama Entreprises |
CM AM and Groupama Entreprises Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CM AM and Groupama Entreprises
The main advantage of trading using opposite CM AM and Groupama Entreprises positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CM AM position performs unexpectedly, Groupama Entreprises 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 Groupama Entreprises will offset losses from the drop in Groupama Entreprises' long position.| CM AM vs. Esfera Robotics R | CM AM vs. R co Valor F | CM AM vs. IE00B0H4TS55 | CM AM vs. Echiquier Entrepreneurs G |
| Groupama Entreprises vs. Lyxor 1 | Groupama Entreprises vs. Xtrackers ShortDAX | Groupama Entreprises vs. Xtrackers LevDAX |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |