Correlation Between IShares VII and HANetf II
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By analyzing existing cross correlation between iShares VII PLC and HANetf II ICAV, you can compare the effects of market volatilities on IShares VII and HANetf II 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 IShares VII with a short position of HANetf II. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares VII and HANetf II.
Diversification Opportunities for IShares VII and HANetf II
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between IShares and HANetf is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding iShares VII PLC and HANetf II ICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HANetf II ICAV and IShares VII 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 iShares VII PLC are associated (or correlated) with HANetf II. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HANetf II ICAV has no effect on the direction of IShares VII i.e., IShares VII and HANetf II go up and down completely randomly.
Pair Corralation between IShares VII and HANetf II
Assuming the 90 days trading horizon iShares VII PLC is expected to generate 2.28 times more return on investment than HANetf II. However, IShares VII is 2.28 times more volatile than HANetf II ICAV. It trades about 0.07 of its potential returns per unit of risk. HANetf II ICAV is currently generating about 0.14 per unit of risk. If you would invest 24,330 in iShares VII PLC on November 5, 2024 and sell it today you would earn a total of 325.00 from holding iShares VII PLC or generate 1.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
iShares VII PLC vs. HANetf II ICAV
Performance |
| Timeline |
| iShares VII PLC |
| HANetf II ICAV |
IShares VII and HANetf II Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares VII and HANetf II
The main advantage of trading using opposite IShares VII and HANetf II positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares VII position performs unexpectedly, HANetf II 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 II will offset losses from the drop in HANetf II's long position.| IShares VII vs. iShares Govt Bond | IShares VII vs. iShares Global AAA AA | IShares VII vs. iShares Smart City | IShares VII vs. iShares Broad High |
| HANetf II vs. HANetf ICAV | HANetf II vs. HANetf ICAV | HANetf II vs. HANetf INQQIndiaInternetEcommESGSETFAcc | HANetf II 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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