Correlation Between HAN GINS and Amundi MSCI
Can any of the company-specific risk be diversified away by investing in both HAN GINS and Amundi MSCI 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 HAN GINS and Amundi MSCI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between HAN GINS Tech Megatrend and Amundi MSCI Emerging, you can compare the effects of market volatilities on HAN GINS and Amundi MSCI 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 HAN GINS with a short position of Amundi MSCI. Check out your portfolio center. Please also check ongoing floating volatility patterns of HAN GINS and Amundi MSCI.
Diversification Opportunities for HAN GINS and Amundi MSCI
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between HAN and Amundi is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding HAN GINS Tech Megatrend and Amundi MSCI Emerging in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi MSCI Emerging and HAN GINS 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 HAN GINS Tech Megatrend are associated (or correlated) with Amundi MSCI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi MSCI Emerging has no effect on the direction of HAN GINS i.e., HAN GINS and Amundi MSCI go up and down completely randomly.
Pair Corralation between HAN GINS and Amundi MSCI
Assuming the 90 days trading horizon HAN GINS Tech Megatrend is expected to under-perform the Amundi MSCI. In addition to that, HAN GINS is 1.94 times more volatile than Amundi MSCI Emerging. It trades about -0.38 of its total potential returns per unit of risk. Amundi MSCI Emerging is currently generating about -0.14 per unit of volatility. If you would invest 4,400 in Amundi MSCI Emerging on December 11, 2024 and sell it today you would lose (145.00) from holding Amundi MSCI Emerging or give up 3.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HAN GINS Tech Megatrend vs. Amundi MSCI Emerging
Performance |
| Timeline |
| HAN GINS Tech |
| Amundi MSCI Emerging |
HAN GINS and Amundi MSCI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HAN GINS and Amundi MSCI
The main advantage of trading using opposite HAN GINS and Amundi MSCI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HAN GINS position performs unexpectedly, Amundi MSCI 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 Amundi MSCI will offset losses from the drop in Amundi MSCI's long position.| HAN GINS vs. HAN GINS Indxx Healthcare | HAN GINS vs. Vanguard FTSE Emerging | HAN GINS vs. UBS ETF MSCI | HAN GINS vs. Amundi MSCI Semiconductors |
| Amundi MSCI vs. Amundi MSCI Semiconductors | Amundi MSCI vs. Amundi Index Solutions | Amundi MSCI vs. Amundi Index Solutions | Amundi MSCI vs. Amundi Index Solutions |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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