Correlation Between ETHetc Physical and Amundi Index
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By analyzing existing cross correlation between ETHetc Physical and Amundi Index Solutions, you can compare the effects of market volatilities on ETHetc Physical and Amundi Index 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 ETHetc Physical with a short position of Amundi Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of ETHetc Physical and Amundi Index.
Diversification Opportunities for ETHetc Physical and Amundi Index
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ETHetc and Amundi is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding ETHetc Physical and Amundi Index Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Index Solutions and ETHetc Physical 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 ETHetc Physical are associated (or correlated) with Amundi Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Index Solutions has no effect on the direction of ETHetc Physical i.e., ETHetc Physical and Amundi Index go up and down completely randomly.
Pair Corralation between ETHetc Physical and Amundi Index
Assuming the 90 days trading horizon ETHetc Physical is expected to under-perform the Amundi Index. In addition to that, ETHetc Physical is 3.98 times more volatile than Amundi Index Solutions. It trades about -0.3 of its total potential returns per unit of risk. Amundi Index Solutions is currently generating about 0.25 per unit of volatility. If you would invest 21,160 in Amundi Index Solutions on October 22, 2024 and sell it today you would earn a total of 975.00 from holding Amundi Index Solutions or generate 4.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 40.0% |
| Values | Daily Returns |
ETHetc Physical vs. Amundi Index Solutions
Performance |
| Timeline |
| ETHetc Physical |
| Amundi Index Solutions |
ETHetc Physical and Amundi Index Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ETHetc Physical and Amundi Index
The main advantage of trading using opposite ETHetc Physical and Amundi Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ETHetc Physical position performs unexpectedly, Amundi Index 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 Amundi Index will offset losses from the drop in Amundi Index's long position.| ETHetc Physical vs. ETHetc ETC | ETHetc Physical vs. Vanguard FTSE Emerging | ETHetc Physical vs. UBS ETF MSCI | ETHetc Physical vs. VanEck Solana ETN |
| Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions |
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 Stocks Directory module to find actively traded stocks across global markets.
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