Correlation Between Ossiam Minimum and Amundi ETF
Can any of the company-specific risk be diversified away by investing in both Ossiam Minimum and Amundi ETF 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 Ossiam Minimum and Amundi ETF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ossiam Minimum Variance and Amundi ETF Leveraged, you can compare the effects of market volatilities on Ossiam Minimum and Amundi ETF 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 Ossiam Minimum with a short position of Amundi ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ossiam Minimum and Amundi ETF.
Diversification Opportunities for Ossiam Minimum and Amundi ETF
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ossiam and Amundi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ossiam Minimum Variance and Amundi ETF Leveraged in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi ETF Leveraged and Ossiam Minimum 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 Ossiam Minimum Variance are associated (or correlated) with Amundi ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi ETF Leveraged has no effect on the direction of Ossiam Minimum i.e., Ossiam Minimum and Amundi ETF go up and down completely randomly.
Pair Corralation between Ossiam Minimum and Amundi ETF
Assuming the 90 days trading horizon Ossiam Minimum Variance is expected to under-perform the Amundi ETF. But the etf apears to be less risky and, when comparing its historical volatility, Ossiam Minimum Variance is 6.28 times less risky than Amundi ETF. The etf trades about -0.04 of its potential returns per unit of risk. The Amundi ETF Leveraged is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 1,105 in Amundi ETF Leveraged on September 3, 2024 and sell it today you would earn a total of 1,433 from holding Amundi ETF Leveraged or generate 129.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Ossiam Minimum Variance vs. Amundi ETF Leveraged
Performance |
| Timeline |
| Ossiam Minimum Variance |
| Amundi ETF Leveraged |
Ossiam Minimum and Amundi ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ossiam Minimum and Amundi ETF
The main advantage of trading using opposite Ossiam Minimum and Amundi ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ossiam Minimum position performs unexpectedly, Amundi ETF 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 ETF will offset losses from the drop in Amundi ETF's long position.| Ossiam Minimum vs. Ossiam Lux Ossiam | Ossiam Minimum vs. Ossiam Europe ESG | Ossiam Minimum vs. Ossiam Lux | Ossiam Minimum vs. Ossiam Shiller Barclays |
| Amundi ETF vs. Lyxor UCITS NASDAQ 100 | Amundi ETF vs. Lyxor UCITS Daily | Amundi ETF vs. Lyxor UCITS Stoxx | Amundi ETF 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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