Correlation Between Amundi Index and Ossiam Shiller
Can any of the company-specific risk be diversified away by investing in both Amundi Index and Ossiam Shiller at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Amundi Index and Ossiam Shiller into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi Index Solutions and Ossiam Shiller Barclays, you can compare the effects of market volatilities on Amundi Index and Ossiam Shiller 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 Amundi Index with a short position of Ossiam Shiller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi Index and Ossiam Shiller.
Diversification Opportunities for Amundi Index and Ossiam Shiller
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Amundi and Ossiam is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Amundi Index Solutions and Ossiam Shiller Barclays in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ossiam Shiller Barclays and Amundi Index 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 Amundi Index Solutions are associated (or correlated) with Ossiam Shiller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ossiam Shiller Barclays has no effect on the direction of Amundi Index i.e., Amundi Index and Ossiam Shiller go up and down completely randomly.
Pair Corralation between Amundi Index and Ossiam Shiller
Assuming the 90 days trading horizon Amundi Index Solutions is expected to generate 1.3 times more return on investment than Ossiam Shiller. However, Amundi Index is 1.3 times more volatile than Ossiam Shiller Barclays. It trades about 0.04 of its potential returns per unit of risk. Ossiam Shiller Barclays is currently generating about 0.04 per unit of risk. If you would invest 10,298 in Amundi Index Solutions on September 2, 2024 and sell it today you would earn a total of 1,896 from holding Amundi Index Solutions or generate 18.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amundi Index Solutions vs. Ossiam Shiller Barclays
Performance |
| Timeline |
| Amundi Index Solutions |
| Ossiam Shiller Barclays |
Amundi Index and Ossiam Shiller Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi Index and Ossiam Shiller
The main advantage of trading using opposite Amundi Index and Ossiam Shiller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi Index position performs unexpectedly, Ossiam Shiller 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 Ossiam Shiller will offset losses from the drop in Ossiam Shiller's long position.| Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi ETF PEA | Amundi Index vs. Amundi ETF PEA |
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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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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