Correlation Between BEKA LUX and IE00B0H4TS55
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By analyzing existing cross correlation between BEKA LUX SICAV and IE00B0H4TS55, you can compare the effects of market volatilities on BEKA LUX and IE00B0H4TS55 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 BEKA LUX with a short position of IE00B0H4TS55. Check out your portfolio center. Please also check ongoing floating volatility patterns of BEKA LUX and IE00B0H4TS55.
Diversification Opportunities for BEKA LUX and IE00B0H4TS55
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between BEKA and IE00B0H4TS55 is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding BEKA LUX SICAV and IE00B0H4TS55 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IE00B0H4TS55 and BEKA LUX 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 BEKA LUX SICAV are associated (or correlated) with IE00B0H4TS55. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IE00B0H4TS55 has no effect on the direction of BEKA LUX i.e., BEKA LUX and IE00B0H4TS55 go up and down completely randomly.
Pair Corralation between BEKA LUX and IE00B0H4TS55
Assuming the 90 days trading horizon BEKA LUX is expected to generate 1.07 times less return on investment than IE00B0H4TS55. But when comparing it to its historical volatility, BEKA LUX SICAV is 1.01 times less risky than IE00B0H4TS55. It trades about 0.11 of its potential returns per unit of risk. IE00B0H4TS55 is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 17,995 in IE00B0H4TS55 on August 29, 2024 and sell it today you would earn a total of 627.00 from holding IE00B0H4TS55 or generate 3.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BEKA LUX SICAV vs. IE00B0H4TS55
Performance |
| Timeline |
| BEKA LUX SICAV |
| IE00B0H4TS55 |
BEKA LUX and IE00B0H4TS55 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BEKA LUX and IE00B0H4TS55
The main advantage of trading using opposite BEKA LUX and IE00B0H4TS55 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BEKA LUX position performs unexpectedly, IE00B0H4TS55 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 IE00B0H4TS55 will offset losses from the drop in IE00B0H4TS55's long position.| BEKA LUX vs. Groupama Entreprises N | BEKA LUX vs. Renaissance Europe C | BEKA LUX vs. Superior Plus Corp | BEKA LUX vs. Origin Agritech |
| IE00B0H4TS55 vs. Esfera Robotics R | IE00B0H4TS55 vs. R co Valor F | IE00B0H4TS55 vs. CM AM Monplus NE | IE00B0H4TS55 vs. Echiquier Entrepreneurs G |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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