Correlation Between Aegon NV and SOUTHERN
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By analyzing existing cross correlation between Aegon NV ADR and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Aegon NV and SOUTHERN 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 SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and SOUTHERN.
Diversification Opportunities for Aegon NV and SOUTHERN
Average diversification
The 3 months correlation between Aegon and SOUTHERN is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and SOUTHERN CALIF EDISON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN CALIF EDISON 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 SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN CALIF EDISON has no effect on the direction of Aegon NV i.e., Aegon NV and SOUTHERN go up and down completely randomly.
Pair Corralation between Aegon NV and SOUTHERN
Considering the 90-day investment horizon Aegon NV ADR is expected to under-perform the SOUTHERN. In addition to that, Aegon NV is 1.98 times more volatile than SOUTHERN CALIF EDISON. It trades about -0.1 of its total potential returns per unit of risk. SOUTHERN CALIF EDISON is currently generating about 0.22 per unit of volatility. If you would invest 10,327 in SOUTHERN CALIF EDISON on September 12, 2024 and sell it today you would earn a total of 217.00 from holding SOUTHERN CALIF EDISON or generate 2.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 61.9% |
| Values | Daily Returns |
Aegon NV ADR vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Aegon NV ADR |
| SOUTHERN CALIF EDISON |
Aegon NV and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and SOUTHERN
The main advantage of trading using opposite Aegon NV and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN'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 |
| SOUTHERN vs. MACOM Technology Solutions | SOUTHERN vs. Nexstar Broadcasting Group | SOUTHERN vs. Ryanair Holdings PLC | SOUTHERN vs. ON Semiconductor |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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