Correlation Between Lyxor 1 and IE00B0H4TS55
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By analyzing existing cross correlation between Lyxor 1 and IE00B0H4TS55, you can compare the effects of market volatilities on Lyxor 1 and IE00B0H4TS55 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 Lyxor 1 with a short position of IE00B0H4TS55. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lyxor 1 and IE00B0H4TS55.
Diversification Opportunities for Lyxor 1 and IE00B0H4TS55
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lyxor and IE00B0H4TS55 is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Lyxor 1 and IE00B0H4TS55 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IE00B0H4TS55 and Lyxor 1 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 Lyxor 1 are associated (or correlated) with IE00B0H4TS55. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IE00B0H4TS55 has no effect on the direction of Lyxor 1 i.e., Lyxor 1 and IE00B0H4TS55 go up and down completely randomly.
Pair Corralation between Lyxor 1 and IE00B0H4TS55
Assuming the 90 days trading horizon Lyxor 1 is expected to under-perform the IE00B0H4TS55. In addition to that, Lyxor 1 is 4.01 times more volatile than IE00B0H4TS55. It trades about -0.03 of its total potential returns per unit of risk. IE00B0H4TS55 is currently generating about 0.04 per unit of volatility. If you would invest 18,589 in IE00B0H4TS55 on August 29, 2024 and sell it today you would earn a total of 33.00 from holding IE00B0H4TS55 or generate 0.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lyxor 1 vs. IE00B0H4TS55
Performance |
| Timeline |
| Lyxor 1 |
| IE00B0H4TS55 |
Lyxor 1 and IE00B0H4TS55 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lyxor 1 and IE00B0H4TS55
The main advantage of trading using opposite Lyxor 1 and IE00B0H4TS55 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lyxor 1 position performs unexpectedly, IE00B0H4TS55 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 IE00B0H4TS55 will offset losses from the drop in IE00B0H4TS55's long position.| Lyxor 1 vs. Lyxor Fed Funds | Lyxor 1 vs. Lyxor BofAML USD | Lyxor 1 vs. Lyxor 1 TecDAX | Lyxor 1 vs. Lyxor UCITS EuroMTS |
| IE00B0H4TS55 vs. Esfera Robotics R | IE00B0H4TS55 vs. R co Valor F | IE00B0H4TS55 vs. CM AM Monplus NE | IE00B0H4TS55 vs. Echiquier Entrepreneurs G |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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