Correlation Between Baloise Holding and CSIF III
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By analyzing existing cross correlation between Baloise Holding AG and CSIF III Eq, you can compare the effects of market volatilities on Baloise Holding and CSIF III 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 III. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baloise Holding and CSIF III.
Diversification Opportunities for Baloise Holding and CSIF III
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Baloise and CSIF is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Baloise Holding AG and CSIF III Eq in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSIF III Eq 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 III. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSIF III Eq has no effect on the direction of Baloise Holding i.e., Baloise Holding and CSIF III go up and down completely randomly.
Pair Corralation between Baloise Holding and CSIF III
Assuming the 90 days trading horizon Baloise Holding AG is expected to generate 1.33 times more return on investment than CSIF III. However, Baloise Holding is 1.33 times more volatile than CSIF III Eq. It trades about 0.11 of its potential returns per unit of risk. CSIF III Eq is currently generating about 0.11 per unit of risk. If you would invest 13,630 in Baloise Holding AG on September 20, 2024 and sell it today you would earn a total of 2,550 from holding Baloise Holding AG or generate 18.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.4% |
| Values | Daily Returns |
Baloise Holding AG vs. CSIF III Eq
Performance |
| Timeline |
| Baloise Holding AG |
| CSIF III Eq |
Baloise Holding and CSIF III Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baloise Holding and CSIF III
The main advantage of trading using opposite Baloise Holding and CSIF III positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baloise Holding position performs unexpectedly, CSIF III 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 III will offset losses from the drop in CSIF III'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 III vs. SPDR Dow Jones | CSIF III vs. Baloise Holding AG | CSIF III vs. Banque Cantonale du | CSIF III 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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