Correlation Between CM AM and IShares Equity
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By analyzing existing cross correlation between CM AM Monplus NE and iShares Equity Enhanced, you can compare the effects of market volatilities on CM AM and IShares Equity 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 IShares Equity. Check out your portfolio center. Please also check ongoing floating volatility patterns of CM AM and IShares Equity.
Diversification Opportunities for CM AM and IShares Equity
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between 0P0001F96C and IShares is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding CM AM Monplus NE and iShares Equity Enhanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares Equity Enhanced 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 IShares Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Equity Enhanced has no effect on the direction of CM AM i.e., CM AM and IShares Equity go up and down completely randomly.
Pair Corralation between CM AM and IShares Equity
Assuming the 90 days trading horizon CM AM Monplus NE is expected to generate 0.02 times more return on investment than IShares Equity. However, CM AM Monplus NE is 61.7 times less risky than IShares Equity. It trades about 1.11 of its potential returns per unit of risk. iShares Equity Enhanced is currently generating about -0.05 per unit of risk. If you would invest 10,618 in CM AM Monplus NE on October 11, 2024 and sell it today you would earn a total of 26.00 from holding CM AM Monplus NE or generate 0.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
CM AM Monplus NE vs. iShares Equity Enhanced
Performance |
| Timeline |
| CM AM Monplus |
| iShares Equity Enhanced |
CM AM and IShares Equity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CM AM and IShares Equity
The main advantage of trading using opposite CM AM and IShares Equity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CM AM position performs unexpectedly, IShares Equity 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 IShares Equity will offset losses from the drop in IShares Equity'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 |
| IShares Equity vs. JPM America Equity | IShares Equity vs. Pareto Nordic Equity | IShares Equity vs. Esfera Robotics R | IShares Equity vs. R co Valor F |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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