Correlation Between HANetf II and HANetf ICAV
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By analyzing existing cross correlation between HANetf II ICAV and HANetf ICAV , you can compare the effects of market volatilities on HANetf II and HANetf ICAV 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 HANetf II with a short position of HANetf ICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of HANetf II and HANetf ICAV.
Diversification Opportunities for HANetf II and HANetf ICAV
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HANetf and HANetf is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding HANetf II ICAV and HANetf ICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HANetf ICAV and HANetf II 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 HANetf II ICAV are associated (or correlated) with HANetf ICAV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HANetf ICAV has no effect on the direction of HANetf II i.e., HANetf II and HANetf ICAV go up and down completely randomly.
Pair Corralation between HANetf II and HANetf ICAV
Assuming the 90 days trading horizon HANetf II ICAV is expected to generate 0.44 times more return on investment than HANetf ICAV. However, HANetf II ICAV is 2.26 times less risky than HANetf ICAV. It trades about 0.0 of its potential returns per unit of risk. HANetf ICAV is currently generating about -0.08 per unit of risk. If you would invest 744.00 in HANetf II ICAV on October 26, 2024 and sell it today you would lose (1.00) from holding HANetf II ICAV or give up 0.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.5% |
| Values | Daily Returns |
HANetf II ICAV vs. HANetf ICAV
Performance |
| Timeline |
| HANetf II ICAV |
| HANetf ICAV |
HANetf II and HANetf ICAV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HANetf II and HANetf ICAV
The main advantage of trading using opposite HANetf II and HANetf ICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HANetf II position performs unexpectedly, HANetf ICAV 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 HANetf ICAV will offset losses from the drop in HANetf ICAV's long position.| HANetf II vs. UBS Fund Solutions | HANetf II vs. Xtrackers II | HANetf II vs. Xtrackers Nikkei 225 | HANetf II vs. iShares VII PLC |
| HANetf ICAV vs. HANetf ICAV | HANetf ICAV vs. HANetf II ICAV | HANetf ICAV vs. HANetf INQQIndiaInternetEcommESGSETFAcc | HANetf ICAV vs. HANetf ICAV |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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