Correlation Between Templeton Emerging and Groupama Entreprises
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By analyzing existing cross correlation between Templeton Emerging Mkt and Groupama Entreprises N, you can compare the effects of market volatilities on Templeton Emerging and Groupama Entreprises 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 Templeton Emerging with a short position of Groupama Entreprises. Check out your portfolio center. Please also check ongoing floating volatility patterns of Templeton Emerging and Groupama Entreprises.
Diversification Opportunities for Templeton Emerging and Groupama Entreprises
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Templeton and Groupama is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Templeton Emerging Mkt and Groupama Entreprises N in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupama Entreprises and Templeton Emerging 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 Templeton Emerging Mkt are associated (or correlated) with Groupama Entreprises. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupama Entreprises has no effect on the direction of Templeton Emerging i.e., Templeton Emerging and Groupama Entreprises go up and down completely randomly.
Pair Corralation between Templeton Emerging and Groupama Entreprises
Assuming the 90 days trading horizon Templeton Emerging Mkt is expected to under-perform the Groupama Entreprises. In addition to that, Templeton Emerging is 41.35 times more volatile than Groupama Entreprises N. It trades about -0.01 of its total potential returns per unit of risk. Groupama Entreprises N is currently generating about 0.99 per unit of volatility. If you would invest 58,306 in Groupama Entreprises N on September 5, 2024 and sell it today you would earn a total of 1,010 from holding Groupama Entreprises N or generate 1.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.22% |
| Values | Daily Returns |
Templeton Emerging Mkt vs. Groupama Entreprises N
Performance |
| Timeline |
| Templeton Emerging Mkt |
| Groupama Entreprises |
Templeton Emerging and Groupama Entreprises Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Templeton Emerging and Groupama Entreprises
The main advantage of trading using opposite Templeton Emerging and Groupama Entreprises positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Templeton Emerging position performs unexpectedly, Groupama Entreprises 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 Groupama Entreprises will offset losses from the drop in Groupama Entreprises' long position.| Templeton Emerging vs. Templeton Global Bond | Templeton Emerging vs. Templeton Asian Bond | Templeton Emerging vs. Templeton Global Bond | Templeton Emerging vs. Templeton Emerging Markets |
| Groupama Entreprises vs. Esfera Robotics R | Groupama Entreprises vs. R co Valor F | Groupama Entreprises vs. CM AM Monplus NE | Groupama Entreprises vs. IE00B0H4TS55 |
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 Channel module to use Commodity Channel Index to analyze current equity momentum.
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