Correlation Between Aegon NV and 09660V2A0
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By analyzing existing cross correlation between Aegon NV ADR and BNP 4375 01 MAR 33, you can compare the effects of market volatilities on Aegon NV and 09660V2A0 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 09660V2A0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and 09660V2A0.
Diversification Opportunities for Aegon NV and 09660V2A0
Poor diversification
The 3 months correlation between Aegon and 09660V2A0 is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and BNP 4375 01 MAR 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BNP 4375 01 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 09660V2A0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BNP 4375 01 has no effect on the direction of Aegon NV i.e., Aegon NV and 09660V2A0 go up and down completely randomly.
Pair Corralation between Aegon NV and 09660V2A0
Considering the 90-day investment horizon Aegon NV ADR is expected to generate 2.71 times more return on investment than 09660V2A0. However, Aegon NV is 2.71 times more volatile than BNP 4375 01 MAR 33. It trades about 0.1 of its potential returns per unit of risk. BNP 4375 01 MAR 33 is currently generating about 0.09 per unit of risk. If you would invest 628.00 in Aegon NV ADR on September 1, 2024 and sell it today you would earn a total of 21.00 from holding Aegon NV ADR or generate 3.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 42.86% |
| Values | Daily Returns |
Aegon NV ADR vs. BNP 4375 01 MAR 33
Performance |
| Timeline |
| Aegon NV ADR |
| BNP 4375 01 |
Aegon NV and 09660V2A0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and 09660V2A0
The main advantage of trading using opposite Aegon NV and 09660V2A0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, 09660V2A0 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 09660V2A0 will offset losses from the drop in 09660V2A0'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 |
| 09660V2A0 vs. Meiwu Technology Co | 09660V2A0 vs. Cabo Drilling Corp | 09660V2A0 vs. Lululemon Athletica | 09660V2A0 vs. ATRenew Inc DRC |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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