Correlation Between Lyxor 1 and BNP Paribas
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lyxor 1 and BNP Paribas Easy, you can compare the effects of market volatilities on Lyxor 1 and BNP Paribas 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 BNP Paribas. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lyxor 1 and BNP Paribas.
Diversification Opportunities for Lyxor 1 and BNP Paribas
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Lyxor and BNP is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Lyxor 1 and BNP Paribas Easy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BNP Paribas Easy 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 BNP Paribas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BNP Paribas Easy has no effect on the direction of Lyxor 1 i.e., Lyxor 1 and BNP Paribas go up and down completely randomly.
Pair Corralation between Lyxor 1 and BNP Paribas
Assuming the 90 days trading horizon Lyxor 1 is expected to generate 1454.0 times less return on investment than BNP Paribas. In addition to that, Lyxor 1 is 1.06 times more volatile than BNP Paribas Easy. It trades about 0.0 of its total potential returns per unit of risk. BNP Paribas Easy is currently generating about 0.17 per unit of volatility. If you would invest 2,194 in BNP Paribas Easy on September 3, 2024 and sell it today you would earn a total of 440.00 from holding BNP Paribas Easy or generate 20.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lyxor 1 vs. BNP Paribas Easy
Performance |
| Timeline |
| Lyxor 1 |
| BNP Paribas Easy |
Lyxor 1 and BNP Paribas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lyxor 1 and BNP Paribas
The main advantage of trading using opposite Lyxor 1 and BNP Paribas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lyxor 1 position performs unexpectedly, BNP Paribas 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 BNP Paribas will offset losses from the drop in BNP Paribas' 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 |
| BNP Paribas vs. UBS Fund Solutions | BNP Paribas vs. Xtrackers II | BNP Paribas vs. Xtrackers Nikkei 225 | BNP Paribas vs. iShares VII PLC |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |