Correlation Between Amundi MSCI and Schroder Asian
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By analyzing existing cross correlation between Amundi MSCI UK and Schroder Asian Alpha, you can compare the effects of market volatilities on Amundi MSCI and Schroder Asian 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 Amundi MSCI with a short position of Schroder Asian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi MSCI and Schroder Asian.
Diversification Opportunities for Amundi MSCI and Schroder Asian
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Amundi and Schroder is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Amundi MSCI UK and Schroder Asian Alpha in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Schroder Asian Alpha and Amundi MSCI 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 Amundi MSCI UK are associated (or correlated) with Schroder Asian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Schroder Asian Alpha has no effect on the direction of Amundi MSCI i.e., Amundi MSCI and Schroder Asian go up and down completely randomly.
Pair Corralation between Amundi MSCI and Schroder Asian
Assuming the 90 days trading horizon Amundi MSCI UK is expected to generate 0.82 times more return on investment than Schroder Asian. However, Amundi MSCI UK is 1.22 times less risky than Schroder Asian. It trades about -0.05 of its potential returns per unit of risk. Schroder Asian Alpha is currently generating about -0.07 per unit of risk. If you would invest 122,644 in Amundi MSCI UK on October 7, 2024 and sell it today you would lose (3,071) from holding Amundi MSCI UK or give up 2.5% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 98.41% |
Values | Daily Returns |
Amundi MSCI UK vs. Schroder Asian Alpha
Performance |
Timeline |
Amundi MSCI UK |
Schroder Asian Alpha |
Amundi MSCI and Schroder Asian Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amundi MSCI and Schroder Asian
The main advantage of trading using opposite Amundi MSCI and Schroder Asian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi MSCI position performs unexpectedly, Schroder Asian 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 Schroder Asian will offset losses from the drop in Schroder Asian's long position.Amundi MSCI vs. Polar Capital Funds | ||
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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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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