Correlation Between Amundi CAC and Ossiam Minimum
Can any of the company-specific risk be diversified away by investing in both Amundi CAC and Ossiam Minimum 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 CAC and Ossiam Minimum into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi CAC 40 and Ossiam Minimum Variance, you can compare the effects of market volatilities on Amundi CAC and Ossiam Minimum 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 CAC with a short position of Ossiam Minimum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi CAC and Ossiam Minimum.
Diversification Opportunities for Amundi CAC and Ossiam Minimum
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amundi and Ossiam is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amundi CAC 40 and Ossiam Minimum Variance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ossiam Minimum Variance and Amundi CAC 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 CAC 40 are associated (or correlated) with Ossiam Minimum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ossiam Minimum Variance has no effect on the direction of Amundi CAC i.e., Amundi CAC and Ossiam Minimum go up and down completely randomly.
Pair Corralation between Amundi CAC and Ossiam Minimum
If you would invest 7,252 in Amundi CAC 40 on September 14, 2024 and sell it today you would earn a total of 48.00 from holding Amundi CAC 40 or generate 0.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Amundi CAC 40 vs. Ossiam Minimum Variance
Performance |
| Timeline |
| Amundi CAC 40 |
| Ossiam Minimum Variance |
Amundi CAC and Ossiam Minimum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi CAC and Ossiam Minimum
The main advantage of trading using opposite Amundi CAC and Ossiam Minimum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi CAC position performs unexpectedly, Ossiam Minimum 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 Minimum will offset losses from the drop in Ossiam Minimum's long position.| Amundi CAC vs. Deutsche Telekom AG | Amundi CAC vs. Volkswagen AG | Amundi CAC vs. Bayerische Motoren Werke | Amundi CAC vs. Mnchener Rck AG |
| Ossiam Minimum vs. Ossiam Lux Ossiam | Ossiam Minimum vs. Ossiam Europe ESG | Ossiam Minimum vs. Ossiam Lux | Ossiam Minimum vs. Ossiam Shiller Barclays |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |