Correlation Between Aegon NV and FitLife Brands,
Can any of the company-specific risk be diversified away by investing in both Aegon NV and FitLife Brands, 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 Aegon NV and FitLife Brands, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aegon NV ADR and FitLife Brands, Common, you can compare the effects of market volatilities on Aegon NV and FitLife Brands, 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 Aegon NV with a short position of FitLife Brands,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and FitLife Brands,.
Diversification Opportunities for Aegon NV and FitLife Brands,
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aegon and FitLife is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and FitLife Brands, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FitLife Brands, Common and Aegon NV 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 Aegon NV ADR are associated (or correlated) with FitLife Brands,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FitLife Brands, Common has no effect on the direction of Aegon NV i.e., Aegon NV and FitLife Brands, go up and down completely randomly.
Pair Corralation between Aegon NV and FitLife Brands,
Considering the 90-day investment horizon Aegon NV is expected to generate 2.0 times less return on investment than FitLife Brands,. But when comparing it to its historical volatility, Aegon NV ADR is 1.66 times less risky than FitLife Brands,. It trades about 0.05 of its potential returns per unit of risk. FitLife Brands, Common is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,630 in FitLife Brands, Common on August 27, 2024 and sell it today you would earn a total of 1,600 from holding FitLife Brands, Common or generate 98.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Aegon NV ADR vs. FitLife Brands, Common
Performance |
| Timeline |
| Aegon NV ADR |
| FitLife Brands, Common |
Aegon NV and FitLife Brands, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and FitLife Brands,
The main advantage of trading using opposite Aegon NV and FitLife Brands, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, FitLife Brands, 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 FitLife Brands, will offset losses from the drop in FitLife Brands,'s long position.| Aegon NV vs. Hartford Financial Services | Aegon NV vs. Goosehead Insurance | Aegon NV vs. International General Insurance | Aegon NV vs. Enstar Group Limited |
| FitLife Brands, vs. Honest Company | FitLife Brands, vs. Hims Hers Health | FitLife Brands, vs. Procter Gamble | FitLife Brands, vs. Kimberly Clark |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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