Correlation Between IShares JPX and IShares Global
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By analyzing existing cross correlation between IShares JPX Nikkei 400 and iShares Global AAA AA, you can compare the effects of market volatilities on IShares JPX and IShares 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 IShares JPX with a short position of IShares Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares JPX and IShares Global.
Diversification Opportunities for IShares JPX and IShares Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between IShares and IShares is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IShares JPX Nikkei 400 and iShares Global AAA AA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares Global AAA and IShares JPX 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 IShares JPX Nikkei 400 are associated (or correlated) with IShares Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Global AAA has no effect on the direction of IShares JPX i.e., IShares JPX and IShares Global go up and down completely randomly.
Pair Corralation between IShares JPX and IShares Global
If you would invest 7,005 in iShares Global AAA AA on August 31, 2024 and sell it today you would earn a total of 315.00 from holding iShares Global AAA AA or generate 4.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
IShares JPX Nikkei 400 vs. iShares Global AAA AA
Performance |
| Timeline |
| IShares JPX Nikkei |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| iShares Global AAA |
IShares JPX and IShares Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares JPX and IShares Global
The main advantage of trading using opposite IShares JPX and IShares Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares JPX position performs unexpectedly, IShares 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 IShares Global will offset losses from the drop in IShares Global's long position.| IShares JPX vs. iShares Govt Bond | IShares JPX vs. iShares Global AAA AA | IShares JPX vs. iShares Smart City | IShares JPX vs. iShares Broad High |
| IShares Global vs. iShares Govt Bond | IShares Global vs. iShares Smart City | IShares Global vs. iShares Broad High | IShares Global vs. iShares Emerging Markets |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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