Correlation Between CM AM and AXA World
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By analyzing existing cross correlation between CM AM Monplus NE and AXA World Funds, you can compare the effects of market volatilities on CM AM and AXA World 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 AXA World. Check out your portfolio center. Please also check ongoing floating volatility patterns of CM AM and AXA World.
Diversification Opportunities for CM AM and AXA World
Pay attention - limited upside
The 3 months correlation between 0P0001F96C and AXA is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding CM AM Monplus NE and AXA World Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXA World Funds 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 AXA World. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXA World Funds has no effect on the direction of CM AM i.e., CM AM and AXA World go up and down completely randomly.
Pair Corralation between CM AM and AXA World
Assuming the 90 days trading horizon CM AM Monplus NE is expected to generate 0.03 times more return on investment than AXA World. However, CM AM Monplus NE is 31.78 times less risky than AXA World. It trades about 1.4 of its potential returns per unit of risk. AXA World Funds is currently generating about 0.04 per unit of risk. If you would invest 9,888 in CM AM Monplus NE on August 30, 2024 and sell it today you would earn a total of 717.00 from holding CM AM Monplus NE or generate 7.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.21% |
| Values | Daily Returns |
CM AM Monplus NE vs. AXA World Funds
Performance |
| Timeline |
| CM AM Monplus |
| AXA World Funds |
CM AM and AXA World Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CM AM and AXA World
The main advantage of trading using opposite CM AM and AXA World positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CM AM position performs unexpectedly, AXA World 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 AXA World will offset losses from the drop in AXA World's 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 |
| AXA World vs. Renaissance Europe C | AXA World vs. Superior Plus Corp | AXA World vs. Origin Agritech | AXA World vs. Identiv |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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