Correlation Between Aegon NV and 84859BAB7
Specify exactly 2 symbols:
By analyzing existing cross correlation between Aegon NV ADR and SAVE 8 20 SEP 25, you can compare the effects of market volatilities on Aegon NV and 84859BAB7 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 84859BAB7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and 84859BAB7.
Diversification Opportunities for Aegon NV and 84859BAB7
Pay attention - limited upside
The 3 months correlation between Aegon and 84859BAB7 is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and SAVE 8 20 SEP 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SAVE 8 20 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 84859BAB7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SAVE 8 20 has no effect on the direction of Aegon NV i.e., Aegon NV and 84859BAB7 go up and down completely randomly.
Pair Corralation between Aegon NV and 84859BAB7
Considering the 90-day investment horizon Aegon NV is expected to generate 3.89 times less return on investment than 84859BAB7. But when comparing it to its historical volatility, Aegon NV ADR is 6.33 times less risky than 84859BAB7. It trades about 0.61 of its potential returns per unit of risk. SAVE 8 20 SEP 25 is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest 7,420 in SAVE 8 20 SEP 25 on October 24, 2024 and sell it today you would earn a total of 1,468 from holding SAVE 8 20 SEP 25 or generate 19.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 55.56% |
| Values | Daily Returns |
Aegon NV ADR vs. SAVE 8 20 SEP 25
Performance |
| Timeline |
| Aegon NV ADR |
| SAVE 8 20 |
Aegon NV and 84859BAB7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and 84859BAB7
The main advantage of trading using opposite Aegon NV and 84859BAB7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, 84859BAB7 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 84859BAB7 will offset losses from the drop in 84859BAB7'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 |
| 84859BAB7 vs. Shenzhen Investment Holdings | 84859BAB7 vs. Gladstone Investment | 84859BAB7 vs. Aegon NV ADR | 84859BAB7 vs. Old Republic International |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |