Correlation Between Amundi FTSE and Lyxor UCITS
Can any of the company-specific risk be diversified away by investing in both Amundi FTSE and Lyxor UCITS 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 Amundi FTSE and Lyxor UCITS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi FTSE EPRANAREIT and Lyxor UCITS Stoxx, you can compare the effects of market volatilities on Amundi FTSE 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 Amundi FTSE with a short position of Lyxor UCITS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi FTSE and Lyxor UCITS.
Diversification Opportunities for Amundi FTSE and Lyxor UCITS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amundi and Lyxor is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amundi FTSE EPRANAREIT and Lyxor UCITS Stoxx in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lyxor UCITS Stoxx and Amundi FTSE 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 Amundi FTSE EPRANAREIT 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 Stoxx has no effect on the direction of Amundi FTSE i.e., Amundi FTSE and Lyxor UCITS go up and down completely randomly.
Pair Corralation between Amundi FTSE and Lyxor UCITS
If you would invest 5,328 in Lyxor UCITS Stoxx on November 2, 2024 and sell it today you would earn a total of 406.00 from holding Lyxor UCITS Stoxx or generate 7.62% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Amundi FTSE EPRANAREIT vs. Lyxor UCITS Stoxx
Performance |
Timeline |
Amundi FTSE EPRANAREIT |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Lyxor UCITS Stoxx |
Amundi FTSE and Lyxor UCITS Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amundi FTSE and Lyxor UCITS
The main advantage of trading using opposite Amundi FTSE and Lyxor UCITS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi FTSE 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.Amundi FTSE vs. Amundi Index Solutions | Amundi FTSE vs. Amundi Index Solutions | Amundi FTSE vs. Amundi MSCI World | Amundi FTSE vs. Amundi Index Solutions |
Lyxor UCITS vs. Lyxor Index Fund | Lyxor UCITS vs. Multi Units France | Lyxor UCITS vs. Lyxor UCITS MSCI | Lyxor UCITS vs. Multi Units France |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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