Correlation Between Cboe UK and Amundi Index
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By analyzing existing cross correlation between Cboe UK Consumer and Amundi Index Solutions, you can compare the effects of market volatilities on Cboe UK and Amundi Index 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 Cboe UK with a short position of Amundi Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cboe UK and Amundi Index.
Diversification Opportunities for Cboe UK and Amundi Index
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cboe and Amundi is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Cboe UK Consumer and Amundi Index Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Index Solutions and Cboe UK 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 Cboe UK Consumer are associated (or correlated) with Amundi Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Index Solutions has no effect on the direction of Cboe UK i.e., Cboe UK and Amundi Index go up and down completely randomly.
Pair Corralation between Cboe UK and Amundi Index
Assuming the 90 days trading horizon Cboe UK Consumer is expected to generate 0.59 times more return on investment than Amundi Index. However, Cboe UK Consumer is 1.71 times less risky than Amundi Index. It trades about 0.5 of its potential returns per unit of risk. Amundi Index Solutions is currently generating about 0.19 per unit of risk. If you would invest 2,925,026 in Cboe UK Consumer on August 30, 2024 and sell it today you would earn a total of 336,221 from holding Cboe UK Consumer or generate 11.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Cboe UK Consumer vs. Amundi Index Solutions
Performance |
| Timeline |
Cboe UK and Amundi Index Volatility Contrast
Predicted Return Density |
| Returns |
Cboe UK Consumer
Pair trading matchups for Cboe UK
Amundi Index Solutions
Pair trading matchups for Amundi Index
Pair Trading with Cboe UK and Amundi Index
The main advantage of trading using opposite Cboe UK and Amundi Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cboe UK position performs unexpectedly, Amundi Index 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 Amundi Index will offset losses from the drop in Amundi Index's long position.| Cboe UK vs. Southern Copper Corp | Cboe UK vs. Made Tech Group | Cboe UK vs. Wheaton Precious Metals | Cboe UK vs. TechnipFMC PLC |
| Amundi Index vs. Amundi EUR High | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi MSCI Pacific | Amundi Index vs. Amundi MSCI Europe |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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