Correlation Between AXA World and BEKA LUX
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By analyzing existing cross correlation between AXA World Funds and BEKA LUX SICAV, you can compare the effects of market volatilities on AXA World and BEKA LUX 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 BEKA LUX. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXA World and BEKA LUX.
Diversification Opportunities for AXA World and BEKA LUX
Pay attention - limited upside
The 3 months correlation between AXA and BEKA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AXA World Funds and BEKA LUX SICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BEKA LUX SICAV 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 BEKA LUX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BEKA LUX SICAV has no effect on the direction of AXA World i.e., AXA World and BEKA LUX go up and down completely randomly.
Pair Corralation between AXA World and BEKA LUX
If you would invest 8,638 in BEKA LUX SICAV on September 1, 2024 and sell it today you would earn a total of 148.00 from holding BEKA LUX SICAV or generate 1.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
AXA World Funds vs. BEKA LUX SICAV
Performance |
| Timeline |
| AXA World Funds |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| BEKA LUX SICAV |
AXA World and BEKA LUX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AXA World and BEKA LUX
The main advantage of trading using opposite AXA World and BEKA LUX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXA World position performs unexpectedly, BEKA LUX 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 BEKA LUX will offset losses from the drop in BEKA LUX's long position.| AXA World vs. AXA World Funds | AXA World vs. AXA World Funds | AXA World vs. Esfera Robotics R | AXA World vs. R co Valor F |
| BEKA LUX vs. Groupama Entreprises N | BEKA LUX vs. Renaissance Europe C | BEKA LUX vs. Superior Plus Corp | BEKA LUX vs. Origin Agritech |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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