Correlation Between Ossiam Minimum and CMG Cleantech
Can any of the company-specific risk be diversified away by investing in both Ossiam Minimum and CMG Cleantech 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 CMG Cleantech 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 CMG Cleantech SA, you can compare the effects of market volatilities on Ossiam Minimum and CMG Cleantech 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 CMG Cleantech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ossiam Minimum and CMG Cleantech.
Diversification Opportunities for Ossiam Minimum and CMG Cleantech
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ossiam and CMG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ossiam Minimum Variance and CMG Cleantech SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CMG Cleantech SA 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 CMG Cleantech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CMG Cleantech SA has no effect on the direction of Ossiam Minimum i.e., Ossiam Minimum and CMG Cleantech go up and down completely randomly.
Pair Corralation between Ossiam Minimum and CMG Cleantech
Assuming the 90 days trading horizon Ossiam Minimum Variance is expected to under-perform the CMG Cleantech. But the etf apears to be less risky and, when comparing its historical volatility, Ossiam Minimum Variance is 22.23 times less risky than CMG Cleantech. The etf trades about -0.03 of its potential returns per unit of risk. The CMG Cleantech SA is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 310.00 in CMG Cleantech SA on September 12, 2024 and sell it today you would lose (182.00) from holding CMG Cleantech SA or give up 58.71% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.43% |
| Values | Daily Returns |
Ossiam Minimum Variance vs. CMG Cleantech SA
Performance |
| Timeline |
| Ossiam Minimum Variance |
| CMG Cleantech SA |
Ossiam Minimum and CMG Cleantech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ossiam Minimum and CMG Cleantech
The main advantage of trading using opposite Ossiam Minimum and CMG Cleantech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ossiam Minimum position performs unexpectedly, CMG Cleantech 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 CMG Cleantech will offset losses from the drop in CMG Cleantech'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 |
| CMG Cleantech vs. Groupe Sfpi | CMG Cleantech vs. NSE SA | CMG Cleantech vs. Manitou BF SA | CMG Cleantech vs. Ossiam Minimum Variance |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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