Correlation Between 91159HHN3 and Aegon NV
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By analyzing existing cross correlation between U S BANCORP and Aegon NV ADR, you can compare the effects of market volatilities on 91159HHN3 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 91159HHN3 with a short position of Aegon NV. Check out your portfolio center. Please also check ongoing floating volatility patterns of 91159HHN3 and Aegon NV.
Diversification Opportunities for 91159HHN3 and Aegon NV
Very good diversification
The 3 months correlation between 91159HHN3 and Aegon is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding U S BANCORP 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 91159HHN3 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 U S BANCORP 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 91159HHN3 i.e., 91159HHN3 and Aegon NV go up and down completely randomly.
Pair Corralation between 91159HHN3 and Aegon NV
Assuming the 90 days trading horizon U S BANCORP is expected to under-perform the Aegon NV. But the bond apears to be less risky and, when comparing its historical volatility, U S BANCORP is 1.77 times less risky than Aegon NV. The bond trades about -0.2 of its potential returns per unit of risk. The Aegon NV ADR is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 628.00 in Aegon NV ADR on September 1, 2024 and sell it today you would earn a total of 21.00 from holding Aegon NV ADR or generate 3.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
U S BANCORP vs. Aegon NV ADR
Performance |
| Timeline |
| U S BANCORP |
| Aegon NV ADR |
91159HHN3 and Aegon NV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 91159HHN3 and Aegon NV
The main advantage of trading using opposite 91159HHN3 and Aegon NV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 91159HHN3 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.| 91159HHN3 vs. AEP TEX INC | 91159HHN3 vs. US BANK NATIONAL | 91159HHN3 vs. American Express | 91159HHN3 vs. Chevron Corp |
| Aegon NV vs. Hartford Financial Services | Aegon NV vs. Goosehead Insurance | Aegon NV vs. International General Insurance | Aegon NV vs. Enstar Group Limited |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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