Correlation Between Caisse Regionale and BNPP BONDSRI
Can any of the company-specific risk be diversified away by investing in both Caisse Regionale and BNPP BONDSRI 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 Caisse Regionale and BNPP BONDSRI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Caisse Regionale de and BNPP BONDSRI ETF, you can compare the effects of market volatilities on Caisse Regionale and BNPP BONDSRI 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 Caisse Regionale with a short position of BNPP BONDSRI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Caisse Regionale and BNPP BONDSRI.
Diversification Opportunities for Caisse Regionale and BNPP BONDSRI
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Caisse and BNPP is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Caisse Regionale de and BNPP BONDSRI ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BNPP BONDSRI ETF and Caisse Regionale 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 Caisse Regionale de are associated (or correlated) with BNPP BONDSRI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BNPP BONDSRI ETF has no effect on the direction of Caisse Regionale i.e., Caisse Regionale and BNPP BONDSRI go up and down completely randomly.
Pair Corralation between Caisse Regionale and BNPP BONDSRI
If you would invest 4,572 in Caisse Regionale de on August 27, 2024 and sell it today you would earn a total of 1,697 from holding Caisse Regionale de or generate 37.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
Caisse Regionale de vs. BNPP BONDSRI ETF
Performance |
| Timeline |
| Caisse Regionale |
| BNPP BONDSRI ETF |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Caisse Regionale and BNPP BONDSRI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Caisse Regionale and BNPP BONDSRI
The main advantage of trading using opposite Caisse Regionale and BNPP BONDSRI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Caisse Regionale position performs unexpectedly, BNPP BONDSRI 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 BNPP BONDSRI will offset losses from the drop in BNPP BONDSRI's long position.| Caisse Regionale vs. Caisse rgionale de | Caisse Regionale vs. Caisse Regionale de | Caisse Regionale vs. Manitou BF SA | Caisse Regionale vs. Ossiam Minimum Variance |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |