Correlation Between Lyxor Index and Lyxor UCITS
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lyxor Index Fund and Lyxor UCITS EuroMTS, you can compare the effects of market volatilities on Lyxor Index and Lyxor UCITS 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 Index with a short position of Lyxor UCITS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lyxor Index and Lyxor UCITS.
Diversification Opportunities for Lyxor Index and Lyxor UCITS
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Lyxor and Lyxor is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Lyxor Index Fund and Lyxor UCITS EuroMTS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lyxor UCITS EuroMTS and Lyxor 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 Lyxor Index Fund are associated (or correlated) with Lyxor UCITS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lyxor UCITS EuroMTS has no effect on the direction of Lyxor Index i.e., Lyxor Index and Lyxor UCITS go up and down completely randomly.
Pair Corralation between Lyxor Index and Lyxor UCITS
Assuming the 90 days trading horizon Lyxor Index Fund is expected to generate 13.74 times more return on investment than Lyxor UCITS. However, Lyxor Index is 13.74 times more volatile than Lyxor UCITS EuroMTS. It trades about 0.11 of its potential returns per unit of risk. Lyxor UCITS EuroMTS is currently generating about 0.52 per unit of risk. If you would invest 6,591 in Lyxor Index Fund on September 2, 2024 and sell it today you would earn a total of 75.00 from holding Lyxor Index Fund or generate 1.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 54.55% |
| Values | Daily Returns |
Lyxor Index Fund vs. Lyxor UCITS EuroMTS
Performance |
| Timeline |
| Lyxor Index Fund |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
| Lyxor UCITS EuroMTS |
Lyxor Index and Lyxor UCITS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lyxor Index and Lyxor UCITS
The main advantage of trading using opposite Lyxor Index and Lyxor UCITS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lyxor Index position performs unexpectedly, Lyxor UCITS 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 Lyxor UCITS will offset losses from the drop in Lyxor UCITS's long position.| Lyxor Index vs. UBS Fund Solutions | Lyxor Index vs. Vanguard Funds Public | Lyxor Index vs. iShares Core SP | Lyxor Index vs. iShares Core MSCI |
| Lyxor UCITS vs. Lyxor Fed Funds | Lyxor UCITS vs. Lyxor BofAML USD | Lyxor UCITS vs. Lyxor 1 TecDAX | Lyxor UCITS vs. Lyxor TIPS DR |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |