Correlation Between CFI Holding and Beta ETF
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By analyzing existing cross correlation between CFI Holding SA and Beta ETF Nasdaq 100, you can compare the effects of market volatilities on CFI Holding and Beta ETF 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 CFI Holding with a short position of Beta ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of CFI Holding and Beta ETF.
Diversification Opportunities for CFI Holding and Beta ETF
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CFI and Beta is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding CFI Holding SA and Beta ETF Nasdaq 100 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beta ETF Nasdaq and CFI 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 CFI Holding SA are associated (or correlated) with Beta ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beta ETF Nasdaq has no effect on the direction of CFI Holding i.e., CFI Holding and Beta ETF go up and down completely randomly.
Pair Corralation between CFI Holding and Beta ETF
Assuming the 90 days trading horizon CFI Holding SA is expected to under-perform the Beta ETF. In addition to that, CFI Holding is 15.45 times more volatile than Beta ETF Nasdaq 100. It trades about -0.1 of its total potential returns per unit of risk. Beta ETF Nasdaq 100 is currently generating about 0.67 per unit of volatility. If you would invest 19,608 in Beta ETF Nasdaq 100 on September 18, 2024 and sell it today you would earn a total of 1,432 from holding Beta ETF Nasdaq 100 or generate 7.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CFI Holding SA vs. Beta ETF Nasdaq 100
Performance |
| Timeline |
| CFI Holding SA |
| Beta ETF Nasdaq |
CFI Holding and Beta ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CFI Holding and Beta ETF
The main advantage of trading using opposite CFI Holding and Beta ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CFI Holding position performs unexpectedly, Beta ETF 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 Beta ETF will offset losses from the drop in Beta ETF's long position.| CFI Holding vs. Banco Santander SA | CFI Holding vs. UniCredit SpA | CFI Holding vs. CEZ as | CFI Holding vs. Polski Koncern Naftowy |
| Beta ETF vs. Asseco Business Solutions | Beta ETF vs. Asseco South Eastern | Beta ETF vs. HM Inwest SA | Beta ETF vs. Movie Games SA |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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