Correlation Between Aegon NV and 85855CAA8
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By analyzing existing cross correlation between Aegon NV ADR and STLA 1711 29 JAN 27, you can compare the effects of market volatilities on Aegon NV and 85855CAA8 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 85855CAA8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and 85855CAA8.
Diversification Opportunities for Aegon NV and 85855CAA8
Very good diversification
The 3 months correlation between Aegon and 85855CAA8 is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and STLA 1711 29 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STLA 1711 29 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 85855CAA8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STLA 1711 29 has no effect on the direction of Aegon NV i.e., Aegon NV and 85855CAA8 go up and down completely randomly.
Pair Corralation between Aegon NV and 85855CAA8
Considering the 90-day investment horizon Aegon NV ADR is expected to generate 0.81 times more return on investment than 85855CAA8. However, Aegon NV ADR is 1.23 times less risky than 85855CAA8. It trades about -0.1 of its potential returns per unit of risk. STLA 1711 29 JAN 27 is currently generating about -0.24 per unit of risk. If you would invest 658.00 in Aegon NV ADR on September 12, 2024 and sell it today you would lose (22.00) from holding Aegon NV ADR or give up 3.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 66.67% |
| Values | Daily Returns |
Aegon NV ADR vs. STLA 1711 29 JAN 27
Performance |
| Timeline |
| Aegon NV ADR |
| STLA 1711 29 |
Aegon NV and 85855CAA8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and 85855CAA8
The main advantage of trading using opposite Aegon NV and 85855CAA8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, 85855CAA8 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 85855CAA8 will offset losses from the drop in 85855CAA8'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 |
| 85855CAA8 vs. Aegon NV ADR | 85855CAA8 vs. Comstock Holding Companies | 85855CAA8 vs. Xponential Fitness | 85855CAA8 vs. Playtech plc |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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