Correlation Between Aegon NV and 031162DP2
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By analyzing existing cross correlation between Aegon NV ADR and AMGN 515 02 MAR 28, you can compare the effects of market volatilities on Aegon NV and 031162DP2 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 031162DP2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and 031162DP2.
Diversification Opportunities for Aegon NV and 031162DP2
Very good diversification
The 3 months correlation between Aegon and 031162DP2 is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and AMGN 515 02 MAR 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMGN 515 02 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 031162DP2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMGN 515 02 has no effect on the direction of Aegon NV i.e., Aegon NV and 031162DP2 go up and down completely randomly.
Pair Corralation between Aegon NV and 031162DP2
Considering the 90-day investment horizon Aegon NV ADR is expected to generate 2.52 times more return on investment than 031162DP2. However, Aegon NV is 2.52 times more volatile than AMGN 515 02 MAR 28. It trades about 0.02 of its potential returns per unit of risk. AMGN 515 02 MAR 28 is currently generating about -0.18 per unit of risk. If you would invest 634.00 in Aegon NV ADR on September 14, 2024 and sell it today you would earn a total of 2.00 from holding Aegon NV ADR or generate 0.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Aegon NV ADR vs. AMGN 515 02 MAR 28
Performance |
| Timeline |
| Aegon NV ADR |
| AMGN 515 02 |
Aegon NV and 031162DP2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and 031162DP2
The main advantage of trading using opposite Aegon NV and 031162DP2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, 031162DP2 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 031162DP2 will offset losses from the drop in 031162DP2'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 |
| 031162DP2 vs. High Performance Beverages | 031162DP2 vs. ICC Holdings | 031162DP2 vs. Aegon NV ADR | 031162DP2 vs. Cleantech Power Corp |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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