Correlation Between Zurich Insurance and BBGI SICAV
Can any of the company-specific risk be diversified away by investing in both Zurich Insurance and BBGI SICAV at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Zurich Insurance and BBGI SICAV into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Zurich Insurance Group and BBGI SICAV SA, you can compare the effects of market volatilities on Zurich Insurance and BBGI SICAV 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 Zurich Insurance with a short position of BBGI SICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zurich Insurance and BBGI SICAV.
Diversification Opportunities for Zurich Insurance and BBGI SICAV
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Zurich and BBGI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Zurich Insurance Group and BBGI SICAV SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BBGI SICAV SA and Zurich Insurance 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 Zurich Insurance Group are associated (or correlated) with BBGI SICAV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BBGI SICAV SA has no effect on the direction of Zurich Insurance i.e., Zurich Insurance and BBGI SICAV go up and down completely randomly.
Pair Corralation between Zurich Insurance and BBGI SICAV
If you would invest (100.00) in BBGI SICAV SA on January 8, 2025 and sell it today you would earn a total of 100.00 from holding BBGI SICAV SA or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Zurich Insurance Group vs. BBGI SICAV SA
Performance |
| Timeline |
| Zurich Insurance |
| BBGI SICAV SA |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Zurich Insurance and BBGI SICAV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zurich Insurance and BBGI SICAV
The main advantage of trading using opposite Zurich Insurance and BBGI SICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zurich Insurance position performs unexpectedly, BBGI SICAV 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 BBGI SICAV will offset losses from the drop in BBGI SICAV's long position.| Zurich Insurance vs. Datalogic | Zurich Insurance vs. Jacquet Metal Service | Zurich Insurance vs. CNH Industrial NV | Zurich Insurance vs. Travel Leisure Co |
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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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