Correlation Between Amundi Index and Amundi ETF
Can any of the company-specific risk be diversified away by investing in both Amundi Index and Amundi ETF at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Amundi Index and Amundi ETF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi Index Solutions and Amundi ETF MSCI, you can compare the effects of market volatilities on Amundi Index and Amundi ETF 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 Amundi Index with a short position of Amundi ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi Index and Amundi ETF.
Diversification Opportunities for Amundi Index and Amundi ETF
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amundi and Amundi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amundi Index Solutions and Amundi ETF MSCI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi ETF MSCI and Amundi Index 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 Amundi Index Solutions are associated (or correlated) with Amundi ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi ETF MSCI has no effect on the direction of Amundi Index i.e., Amundi Index and Amundi ETF go up and down completely randomly.
Pair Corralation between Amundi Index and Amundi ETF
If you would invest (100.00) in Amundi ETF MSCI on August 27, 2024 and sell it today you would earn a total of 100.00 from holding Amundi ETF MSCI or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Amundi Index Solutions vs. Amundi ETF MSCI
Performance |
| Timeline |
| Amundi Index Solutions |
| Amundi ETF MSCI |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Amundi Index and Amundi ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi Index and Amundi ETF
The main advantage of trading using opposite Amundi Index and Amundi ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi Index position performs unexpectedly, Amundi ETF 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 Amundi ETF will offset losses from the drop in Amundi ETF's long position.| Amundi Index vs. Leverage Shares 3x | Amundi Index vs. Leverage Shares 3x | Amundi Index vs. Leverage Shares 3x | Amundi Index vs. WisdomTree Short GBP |
| Amundi ETF vs. Amundi EUR High | Amundi ETF vs. Amundi Index Solutions | Amundi ETF vs. Amundi MSCI Pacific | Amundi ETF vs. Amundi MSCI Europe |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |