Correlation Between Amundi ETF and Amundi PEA
Can any of the company-specific risk be diversified away by investing in both Amundi ETF and Amundi PEA 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 ETF and Amundi PEA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi ETF PEA and Amundi PEA Immobilier, you can compare the effects of market volatilities on Amundi ETF and Amundi PEA 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 ETF with a short position of Amundi PEA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi ETF and Amundi PEA.
Diversification Opportunities for Amundi ETF and Amundi PEA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amundi and Amundi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amundi ETF PEA and Amundi PEA Immobilier in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi PEA Immobilier and Amundi ETF 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 ETF PEA are associated (or correlated) with Amundi PEA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi PEA Immobilier has no effect on the direction of Amundi ETF i.e., Amundi ETF and Amundi PEA go up and down completely randomly.
Pair Corralation between Amundi ETF and Amundi PEA
If you would invest (100.00) in Amundi ETF PEA on August 27, 2024 and sell it today you would earn a total of 100.00 from holding Amundi ETF PEA or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Amundi ETF PEA vs. Amundi PEA Immobilier
Performance |
| Timeline |
| Amundi ETF PEA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Amundi PEA Immobilier |
Amundi ETF and Amundi PEA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi ETF and Amundi PEA
The main advantage of trading using opposite Amundi ETF and Amundi PEA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi ETF position performs unexpectedly, Amundi PEA 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 PEA will offset losses from the drop in Amundi PEA's long position.| Amundi ETF vs. Amundi ETF PEA | Amundi ETF vs. Amundi ETF PEA | Amundi ETF vs. Amundi ETF PEA | 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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