Correlation Between Amundi Index and Ossiam Minimum
Can any of the company-specific risk be diversified away by investing in both Amundi Index 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 Index 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 Index Solutions and Ossiam Minimum Variance, you can compare the effects of market volatilities on Amundi Index 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 Index with a short position of Ossiam Minimum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi Index and Ossiam Minimum.
Diversification Opportunities for Amundi Index 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 Index Solutions 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 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 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 Index i.e., Amundi Index and Ossiam Minimum go up and down completely randomly.
Pair Corralation between Amundi Index and Ossiam Minimum
Assuming the 90 days trading horizon Amundi Index Solutions is expected to generate 3.21 times more return on investment than Ossiam Minimum. However, Amundi Index is 3.21 times more volatile than Ossiam Minimum Variance. It trades about 0.12 of its potential returns per unit of risk. Ossiam Minimum Variance is currently generating about -0.04 per unit of risk. If you would invest 46,535 in Amundi Index Solutions on September 3, 2024 and sell it today you would earn a total of 25,842 from holding Amundi Index Solutions or generate 55.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Amundi Index Solutions vs. Ossiam Minimum Variance
Performance |
| Timeline |
| Amundi Index Solutions |
| Ossiam Minimum Variance |
Amundi Index and Ossiam Minimum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi Index and Ossiam Minimum
The main advantage of trading using opposite Amundi Index and Ossiam Minimum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi Index 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 Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Manitou BF SA | Amundi Index vs. Ossiam Minimum Variance |
| 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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