Correlation Between Ossiam Minimum and Amundi Stoxx
Can any of the company-specific risk be diversified away by investing in both Ossiam Minimum and Amundi Stoxx 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 Stoxx 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 Stoxx Europe, you can compare the effects of market volatilities on Ossiam Minimum and Amundi Stoxx 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 Stoxx. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ossiam Minimum and Amundi Stoxx.
Diversification Opportunities for Ossiam Minimum and Amundi Stoxx
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 Stoxx Europe in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Stoxx Europe 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 Stoxx. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Stoxx Europe has no effect on the direction of Ossiam Minimum i.e., Ossiam Minimum and Amundi Stoxx go up and down completely randomly.
Pair Corralation between Ossiam Minimum and Amundi Stoxx
If you would invest 21,526 in Amundi Stoxx Europe on September 4, 2024 and sell it today you would earn a total of 2,453 from holding Amundi Stoxx Europe or generate 11.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ossiam Minimum Variance vs. Amundi Stoxx Europe
Performance |
| Timeline |
| Ossiam Minimum Variance |
| Amundi Stoxx Europe |
Ossiam Minimum and Amundi Stoxx Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ossiam Minimum and Amundi Stoxx
The main advantage of trading using opposite Ossiam Minimum and Amundi Stoxx positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ossiam Minimum position performs unexpectedly, Amundi Stoxx 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 Stoxx will offset losses from the drop in Amundi Stoxx's long position.| Ossiam Minimum vs. Amundi Index Solutions | Ossiam Minimum vs. Manitou BF SA | Ossiam Minimum vs. 21Shares Polkadot ETP | Ossiam Minimum vs. Ekinops SA |
| Amundi Stoxx vs. Amundi Index Solutions | Amundi Stoxx vs. Manitou BF SA | Amundi Stoxx vs. 21Shares Polkadot ETP | Amundi Stoxx vs. Ekinops SA |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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