Correlation Between Aegon NV and GWOCN
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By analyzing existing cross correlation between Aegon NV ADR and GWOCN 415 03 JUN 47, you can compare the effects of market volatilities on Aegon NV and GWOCN 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 GWOCN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and GWOCN.
Diversification Opportunities for Aegon NV and GWOCN
Very weak diversification
The 3 months correlation between Aegon and GWOCN is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and GWOCN 415 03 JUN 47 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GWOCN 415 03 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 GWOCN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GWOCN 415 03 has no effect on the direction of Aegon NV i.e., Aegon NV and GWOCN go up and down completely randomly.
Pair Corralation between Aegon NV and GWOCN
Considering the 90-day investment horizon Aegon NV ADR is expected to generate 0.94 times more return on investment than GWOCN. However, Aegon NV ADR is 1.06 times less risky than GWOCN. It trades about 0.06 of its potential returns per unit of risk. GWOCN 415 03 JUN 47 is currently generating about -0.02 per unit of risk. If you would invest 531.00 in Aegon NV ADR on September 4, 2024 and sell it today you would earn a total of 110.00 from holding Aegon NV ADR or generate 20.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 23.08% |
| Values | Daily Returns |
Aegon NV ADR vs. GWOCN 415 03 JUN 47
Performance |
| Timeline |
| Aegon NV ADR |
| GWOCN 415 03 |
Aegon NV and GWOCN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and GWOCN
The main advantage of trading using opposite Aegon NV and GWOCN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, GWOCN 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 GWOCN will offset losses from the drop in GWOCN'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 |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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