Correlation Between Baloise Swiss and Julius Baer
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By analyzing existing cross correlation between Baloise Swiss Property and Julius Baer Edelweiss, you can compare the effects of market volatilities on Baloise Swiss 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 Swiss with a short position of Julius Baer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baloise Swiss and Julius Baer.
Diversification Opportunities for Baloise Swiss and Julius Baer
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Baloise and Julius is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Baloise Swiss Property 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 Swiss 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 Swiss Property 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 Swiss i.e., Baloise Swiss and Julius Baer go up and down completely randomly.
Pair Corralation between Baloise Swiss and Julius Baer
Assuming the 90 days trading horizon Baloise Swiss is expected to generate 6.04 times less return on investment than Julius Baer. In addition to that, Baloise Swiss is 1.18 times more volatile than Julius Baer Edelweiss. It trades about 0.01 of its total potential returns per unit of risk. Julius Baer Edelweiss is currently generating about 0.06 per unit of volatility. If you would invest 12,382 in Julius Baer Edelweiss on September 20, 2024 and sell it today you would earn a total of 2,610 from holding Julius Baer Edelweiss or generate 21.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Baloise Swiss Property vs. Julius Baer Edelweiss
Performance |
| Timeline |
| Baloise Swiss Property |
| Julius Baer Edelweiss |
Baloise Swiss and Julius Baer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baloise Swiss and Julius Baer
The main advantage of trading using opposite Baloise Swiss and Julius Baer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baloise Swiss 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 Swiss vs. SPDR Dow Jones | Baloise Swiss vs. Baloise Holding AG | Baloise Swiss vs. Banque Cantonale du | Baloise Swiss 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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