Correlation Between Baloise Holding and Zurich Invest
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By analyzing existing cross correlation between Baloise Holding AG and Zurich Invest II, you can compare the effects of market volatilities on Baloise Holding and Zurich Invest 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 Zurich Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baloise Holding and Zurich Invest.
Diversification Opportunities for Baloise Holding and Zurich Invest
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Baloise and Zurich is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Baloise Holding AG and Zurich Invest II in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zurich Invest II 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 Zurich Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zurich Invest II has no effect on the direction of Baloise Holding i.e., Baloise Holding and Zurich Invest go up and down completely randomly.
Pair Corralation between Baloise Holding and Zurich Invest
Assuming the 90 days trading horizon Baloise Holding AG is expected to under-perform the Zurich Invest. In addition to that, Baloise Holding is 3.32 times more volatile than Zurich Invest II. It trades about -0.24 of its total potential returns per unit of risk. Zurich Invest II is currently generating about 0.2 per unit of volatility. If you would invest 871.00 in Zurich Invest II on September 20, 2024 and sell it today you would earn a total of 6.00 from holding Zurich Invest II or generate 0.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Baloise Holding AG vs. Zurich Invest II
Performance |
| Timeline |
| Baloise Holding AG |
| Zurich Invest II |
Baloise Holding and Zurich Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baloise Holding and Zurich Invest
The main advantage of trading using opposite Baloise Holding and Zurich Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baloise Holding position performs unexpectedly, Zurich Invest 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 Zurich Invest will offset losses from the drop in Zurich Invest'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 |
| Zurich Invest vs. SPDR Dow Jones | Zurich Invest vs. Baloise Holding AG | Zurich Invest vs. Banque Cantonale du | Zurich Invest vs. 21Shares Polkadot ETP |
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 Stocks Directory module to find actively traded stocks across global markets.
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