Correlation Between 023771S25 and Aegon NV
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By analyzing existing cross correlation between AAL 325 15 OCT 28 and Aegon NV ADR, you can compare the effects of market volatilities on 023771S25 and Aegon NV 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 023771S25 with a short position of Aegon NV. Check out your portfolio center. Please also check ongoing floating volatility patterns of 023771S25 and Aegon NV.
Diversification Opportunities for 023771S25 and Aegon NV
Significant diversification
The 3 months correlation between 023771S25 and Aegon is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding AAL 325 15 OCT 28 and Aegon NV ADR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aegon NV ADR and 023771S25 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 AAL 325 15 OCT 28 are associated (or correlated) with Aegon NV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aegon NV ADR has no effect on the direction of 023771S25 i.e., 023771S25 and Aegon NV go up and down completely randomly.
Pair Corralation between 023771S25 and Aegon NV
Assuming the 90 days trading horizon AAL 325 15 OCT 28 is expected to under-perform the Aegon NV. In addition to that, 023771S25 is 4.84 times more volatile than Aegon NV ADR. It trades about -0.44 of its total potential returns per unit of risk. Aegon NV ADR is currently generating about 0.0 per unit of volatility. If you would invest 635.00 in Aegon NV ADR on September 3, 2024 and sell it today you would lose (1.00) from holding Aegon NV ADR or give up 0.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 25.0% |
| Values | Daily Returns |
AAL 325 15 OCT 28 vs. Aegon NV ADR
Performance |
| Timeline |
| AAL 325 15 |
| Aegon NV ADR |
023771S25 and Aegon NV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 023771S25 and Aegon NV
The main advantage of trading using opposite 023771S25 and Aegon NV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 023771S25 position performs unexpectedly, Aegon NV 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 Aegon NV will offset losses from the drop in Aegon NV's long position.| 023771S25 vs. Chester Mining | 023771S25 vs. Brandywine Realty Trust | 023771S25 vs. Treasury Wine Estates | 023771S25 vs. China Tontine Wines |
| Aegon NV vs. Global Indemnity PLC | Aegon NV vs. Erie Indemnity | Aegon NV vs. AMERISAFE | Aegon NV vs. Diamond Hill Investment |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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