Correlation Between Banque Cantonale and Zurich Invest
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By analyzing existing cross correlation between Banque Cantonale du and Zurich Invest II, you can compare the effects of market volatilities on Banque Cantonale and Zurich Invest 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 Banque Cantonale with a short position of Zurich Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banque Cantonale and Zurich Invest.
Diversification Opportunities for Banque Cantonale and Zurich Invest
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Banque and Zurich is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Banque Cantonale du and Zurich Invest II in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zurich Invest II and Banque Cantonale 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 Banque Cantonale du are associated (or correlated) with Zurich Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zurich Invest II has no effect on the direction of Banque Cantonale i.e., Banque Cantonale and Zurich Invest go up and down completely randomly.
Pair Corralation between Banque Cantonale and Zurich Invest
Assuming the 90 days trading horizon Banque Cantonale du is expected to generate 3.26 times more return on investment than Zurich Invest. However, Banque Cantonale is 3.26 times more volatile than Zurich Invest II. It trades about 0.04 of its potential returns per unit of risk. Zurich Invest II is currently generating about 0.07 per unit of risk. If you would invest 9,739 in Banque Cantonale du on September 20, 2024 and sell it today you would earn a total of 1,311 from holding Banque Cantonale du or generate 13.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Banque Cantonale du vs. Zurich Invest II
Performance |
| Timeline |
| Banque Cantonale |
| Zurich Invest II |
Banque Cantonale and Zurich Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Banque Cantonale and Zurich Invest
The main advantage of trading using opposite Banque Cantonale and Zurich Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banque Cantonale position performs unexpectedly, Zurich Invest 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 Zurich Invest will offset losses from the drop in Zurich Invest's long position.| Banque Cantonale vs. Banque Cantonale | Banque Cantonale vs. Berner Kantonalbank AG | Banque Cantonale vs. Luzerner Kantonalbank AG | Banque Cantonale vs. Banque Cantonale de |
| Zurich Invest vs. SPDR Dow Jones | Zurich Invest vs. Baloise Holding AG | Zurich Invest vs. Banque Cantonale du | Zurich Invest vs. 21Shares Polkadot ETP |
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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