Correlation Between Baloise Holding and CSIF I
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By analyzing existing cross correlation between Baloise Holding AG and CSIF I Equity, you can compare the effects of market volatilities on Baloise Holding and CSIF I 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 Baloise Holding with a short position of CSIF I. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baloise Holding and CSIF I.
Diversification Opportunities for Baloise Holding and CSIF I
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Baloise and CSIF is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Baloise Holding AG and CSIF I Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSIF I Equity and Baloise Holding 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 Baloise Holding AG are associated (or correlated) with CSIF I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSIF I Equity has no effect on the direction of Baloise Holding i.e., Baloise Holding and CSIF I go up and down completely randomly.
Pair Corralation between Baloise Holding and CSIF I
Assuming the 90 days trading horizon Baloise Holding AG is expected to under-perform the CSIF I. In addition to that, Baloise Holding is 1.11 times more volatile than CSIF I Equity. It trades about -0.03 of its total potential returns per unit of risk. CSIF I Equity is currently generating about 0.38 per unit of volatility. If you would invest 98,955 in CSIF I Equity on November 7, 2024 and sell it today you would earn a total of 4,357 from holding CSIF I Equity or generate 4.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
Baloise Holding AG vs. CSIF I Equity
Performance |
| Timeline |
| Baloise Holding AG |
| CSIF I Equity |
Baloise Holding and CSIF I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baloise Holding and CSIF I
The main advantage of trading using opposite Baloise Holding and CSIF I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baloise Holding position performs unexpectedly, CSIF I 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 CSIF I will offset losses from the drop in CSIF I's long position.| Baloise Holding vs. Swiss Life Holding | Baloise Holding vs. Helvetia Holding AG | Baloise Holding vs. Swisscom AG | Baloise Holding vs. Zurich Insurance Group |
| CSIF I vs. CSIF III Eq | CSIF I vs. CSIF III Equity | CSIF I vs. CSIF III Equity | CSIF I vs. CSIF III Equity |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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