Correlation Between Aegon NV and 19123MAF0
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By analyzing existing cross correlation between Aegon NV ADR and CCEP 15 15 JAN 27, you can compare the effects of market volatilities on Aegon NV and 19123MAF0 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 19123MAF0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and 19123MAF0.
Diversification Opportunities for Aegon NV and 19123MAF0
Poor diversification
The 3 months correlation between Aegon and 19123MAF0 is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and CCEP 15 15 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCEP 15 15 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 19123MAF0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEP 15 15 has no effect on the direction of Aegon NV i.e., Aegon NV and 19123MAF0 go up and down completely randomly.
Pair Corralation between Aegon NV and 19123MAF0
Considering the 90-day investment horizon Aegon NV ADR is expected to generate 2.57 times more return on investment than 19123MAF0. However, Aegon NV is 2.57 times more volatile than CCEP 15 15 JAN 27. It trades about 0.04 of its potential returns per unit of risk. CCEP 15 15 JAN 27 is currently generating about -0.06 per unit of risk. If you would invest 601.00 in Aegon NV ADR on September 5, 2024 and sell it today you would earn a total of 40.00 from holding Aegon NV ADR or generate 6.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 31.2% |
| Values | Daily Returns |
Aegon NV ADR vs. CCEP 15 15 JAN 27
Performance |
| Timeline |
| Aegon NV ADR |
| CCEP 15 15 |
Aegon NV and 19123MAF0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and 19123MAF0
The main advantage of trading using opposite Aegon NV and 19123MAF0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, 19123MAF0 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 19123MAF0 will offset losses from the drop in 19123MAF0's long position.| Aegon NV vs. Goosehead Insurance | Aegon NV vs. Enstar Group Limited | Aegon NV vs. American International Group | Aegon NV vs. Sun Life Financial |
| 19123MAF0 vs. Patterson UTI Energy | 19123MAF0 vs. Integrated Drilling Equipment | 19123MAF0 vs. enVVeno Medical Corp | 19123MAF0 vs. SunLink Health Systems |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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