Correlation Between Julius Baer and EFG International
Can any of the company-specific risk be diversified away by investing in both Julius Baer and EFG International 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 Julius Baer and EFG International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Julius Baer Gruppe and EFG International AG, you can compare the effects of market volatilities on Julius Baer and EFG International 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 Julius Baer with a short position of EFG International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Julius Baer and EFG International.
Diversification Opportunities for Julius Baer and EFG International
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Julius and EFG is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Julius Baer Gruppe and EFG International AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EFG International and Julius Baer 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 Julius Baer Gruppe are associated (or correlated) with EFG International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EFG International has no effect on the direction of Julius Baer i.e., Julius Baer and EFG International go up and down completely randomly.
Pair Corralation between Julius Baer and EFG International
If you would invest 4,359 in Julius Baer Gruppe on November 3, 2024 and sell it today you would earn a total of 2,071 from holding Julius Baer Gruppe or generate 47.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
Julius Baer Gruppe vs. EFG International AG
Performance |
| Timeline |
| Julius Baer Gruppe |
| EFG International |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
Julius Baer and EFG International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Julius Baer and EFG International
The main advantage of trading using opposite Julius Baer and EFG International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Julius Baer position performs unexpectedly, EFG International 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 EFG International will offset losses from the drop in EFG International's long position.| Julius Baer vs. Swiss Life Holding | Julius Baer vs. UBS Group AG | Julius Baer vs. Adecco Group AG | Julius Baer vs. Zurich Insurance Group |
| EFG International vs. Vontobel Holding | EFG International vs. Julius Baer Gruppe | EFG International vs. Helvetia Holding AG | EFG International vs. Cembra Money Bank |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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