Correlation Between AXA World and Barings Global
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By analyzing existing cross correlation between AXA World Funds and Barings Global Umbrella, you can compare the effects of market volatilities on AXA World and Barings Global 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 AXA World with a short position of Barings Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXA World and Barings Global.
Diversification Opportunities for AXA World and Barings Global
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between AXA and Barings is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding AXA World Funds and Barings Global Umbrella in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Barings Global Umbrella and AXA World 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 AXA World Funds are associated (or correlated) with Barings Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barings Global Umbrella has no effect on the direction of AXA World i.e., AXA World and Barings Global go up and down completely randomly.
Pair Corralation between AXA World and Barings Global
Assuming the 90 days trading horizon AXA World is expected to generate 1.09 times less return on investment than Barings Global. But when comparing it to its historical volatility, AXA World Funds is 1.14 times less risky than Barings Global. It trades about 0.21 of its potential returns per unit of risk. Barings Global Umbrella is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 736.00 in Barings Global Umbrella on October 23, 2024 and sell it today you would earn a total of 13.00 from holding Barings Global Umbrella or generate 1.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 94.12% |
| Values | Daily Returns |
AXA World Funds vs. Barings Global Umbrella
Performance |
| Timeline |
| AXA World Funds |
| Barings Global Umbrella |
AXA World and Barings Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AXA World and Barings Global
The main advantage of trading using opposite AXA World and Barings Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXA World position performs unexpectedly, Barings Global 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 Barings Global will offset losses from the drop in Barings Global's long position.| AXA World vs. AXA World Funds | AXA World vs. Esfera Robotics R | AXA World vs. R co Valor F | AXA World vs. CM AM Monplus NE |
| Barings Global vs. Esfera Robotics R | Barings Global vs. R co Valor F | Barings Global vs. CM AM Monplus NE | Barings Global vs. IE00B0H4TS55 |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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