Correlation Between CM AM and Aberdeen Global
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By analyzing existing cross correlation between CM AM Monplus NE and Aberdeen Global Asian, you can compare the effects of market volatilities on CM AM and Aberdeen Global 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 Aberdeen Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of CM AM and Aberdeen Global.
Diversification Opportunities for CM AM and Aberdeen Global
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 0P0001F96C and Aberdeen is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding CM AM Monplus NE and Aberdeen Global Asian in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aberdeen Global Asian 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 Aberdeen Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aberdeen Global Asian has no effect on the direction of CM AM i.e., CM AM and Aberdeen Global go up and down completely randomly.
Pair Corralation between CM AM and Aberdeen Global
Assuming the 90 days trading horizon CM AM is expected to generate 9.57 times less return on investment than Aberdeen Global. But when comparing it to its historical volatility, CM AM Monplus NE is 71.39 times less risky than Aberdeen Global. It trades about 1.11 of its potential returns per unit of risk. Aberdeen Global Asian is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 5,555 in Aberdeen Global Asian on October 11, 2024 and sell it today you would earn a total of 128.00 from holding Aberdeen Global Asian or generate 2.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CM AM Monplus NE vs. Aberdeen Global Asian
Performance |
| Timeline |
| CM AM Monplus |
| Aberdeen Global Asian |
CM AM and Aberdeen Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CM AM and Aberdeen Global
The main advantage of trading using opposite CM AM and Aberdeen Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CM AM position performs unexpectedly, Aberdeen Global 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 Aberdeen Global will offset losses from the drop in Aberdeen Global's long position.| CM AM vs. Esfera Robotics R | CM AM vs. R co Valor F | CM AM vs. IE00B0H4TS55 | CM AM vs. DWS Aktien Strategie |
| Aberdeen Global vs. Azvalor Global Value | Aberdeen Global vs. JPM Global Natural | Aberdeen Global vs. BGF Global Allocation | Aberdeen Global vs. Cobas Global PP |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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