Correlation Between PNE AG and Lyxor 1
Specify exactly 2 symbols:
By analyzing existing cross correlation between PNE AG and Lyxor 1 , you can compare the effects of market volatilities on PNE AG and Lyxor 1 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 PNE AG with a short position of Lyxor 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of PNE AG and Lyxor 1.
Diversification Opportunities for PNE AG and Lyxor 1
Modest diversification
The 3 months correlation between PNE and Lyxor is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding PNE AG and Lyxor 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lyxor 1 and PNE AG 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 PNE AG are associated (or correlated) with Lyxor 1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lyxor 1 has no effect on the direction of PNE AG i.e., PNE AG and Lyxor 1 go up and down completely randomly.
Pair Corralation between PNE AG and Lyxor 1
Assuming the 90 days trading horizon PNE AG is expected to under-perform the Lyxor 1. In addition to that, PNE AG is 1.28 times more volatile than Lyxor 1 . It trades about -0.24 of its total potential returns per unit of risk. Lyxor 1 is currently generating about 0.21 per unit of volatility. If you would invest 2,413 in Lyxor 1 on September 4, 2024 and sell it today you would earn a total of 86.00 from holding Lyxor 1 or generate 3.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
PNE AG vs. Lyxor 1
Performance |
| Timeline |
| PNE AG |
| Lyxor 1 |
PNE AG and Lyxor 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PNE AG and Lyxor 1
The main advantage of trading using opposite PNE AG and Lyxor 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PNE AG position performs unexpectedly, Lyxor 1 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 1 will offset losses from the drop in Lyxor 1's long position.| PNE AG vs. CN LGYPWRGRUNSPADR10 | PNE AG vs. Lyxor 1 | PNE AG vs. Xtrackers ShortDAX | PNE AG vs. Xtrackers LevDAX |
| Lyxor 1 vs. Lyxor Fed Funds | Lyxor 1 vs. Lyxor BofAML USD | Lyxor 1 vs. Lyxor 1 TecDAX | Lyxor 1 vs. Lyxor UCITS EuroMTS |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals |