Correlation Between Baloise Holding and Julius Baer
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By analyzing existing cross correlation between Baloise Holding AG and Julius Baer Edelweiss, you can compare the effects of market volatilities on Baloise Holding and Julius Baer 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 Julius Baer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baloise Holding and Julius Baer.
Diversification Opportunities for Baloise Holding and Julius Baer
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Baloise and Julius is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Baloise Holding AG and Julius Baer Edelweiss in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Julius Baer Edelweiss 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 Julius Baer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Julius Baer Edelweiss has no effect on the direction of Baloise Holding i.e., Baloise Holding and Julius Baer go up and down completely randomly.
Pair Corralation between Baloise Holding and Julius Baer
Assuming the 90 days trading horizon Baloise Holding AG is expected to generate 1.43 times more return on investment than Julius Baer. However, Baloise Holding is 1.43 times more volatile than Julius Baer Edelweiss. It trades about 0.08 of its potential returns per unit of risk. Julius Baer Edelweiss is currently generating about 0.07 per unit of risk. If you would invest 12,392 in Baloise Holding AG on December 11, 2024 and sell it today you would earn a total of 5,058 from holding Baloise Holding AG or generate 40.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Baloise Holding AG vs. Julius Baer Edelweiss
Performance |
| Timeline |
| Baloise Holding AG |
| Julius Baer Edelweiss |
Baloise Holding and Julius Baer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baloise Holding and Julius Baer
The main advantage of trading using opposite Baloise Holding and Julius Baer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baloise Holding position performs unexpectedly, Julius Baer 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 Julius Baer will offset losses from the drop in Julius Baer'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 |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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