Correlation Between HANetf ICAV and Xtrackers
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By analyzing existing cross correlation between HANetf ICAV and Xtrackers II , you can compare the effects of market volatilities on HANetf ICAV and Xtrackers 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 HANetf ICAV with a short position of Xtrackers. Check out your portfolio center. Please also check ongoing floating volatility patterns of HANetf ICAV and Xtrackers.
Diversification Opportunities for HANetf ICAV and Xtrackers
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HANetf and Xtrackers is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding HANetf ICAV and Xtrackers II in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xtrackers II and HANetf ICAV 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 HANetf ICAV are associated (or correlated) with Xtrackers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xtrackers II has no effect on the direction of HANetf ICAV i.e., HANetf ICAV and Xtrackers go up and down completely randomly.
Pair Corralation between HANetf ICAV and Xtrackers
Assuming the 90 days trading horizon HANetf ICAV is expected to generate 0.69 times more return on investment than Xtrackers. However, HANetf ICAV is 1.44 times less risky than Xtrackers. It trades about 0.08 of its potential returns per unit of risk. Xtrackers II is currently generating about 0.02 per unit of risk. If you would invest 845.00 in HANetf ICAV on September 25, 2024 and sell it today you would earn a total of 12.00 from holding HANetf ICAV or generate 1.42% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 95.45% |
Values | Daily Returns |
HANetf ICAV vs. Xtrackers II
Performance |
Timeline |
HANetf ICAV |
Xtrackers II |
HANetf ICAV and Xtrackers Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HANetf ICAV and Xtrackers
The main advantage of trading using opposite HANetf ICAV and Xtrackers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HANetf ICAV position performs unexpectedly, Xtrackers 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 Xtrackers will offset losses from the drop in Xtrackers' long position.HANetf ICAV vs. UBS Fund Solutions | HANetf ICAV vs. Xtrackers II | HANetf ICAV vs. Xtrackers Nikkei 225 | HANetf ICAV vs. iShares VII PLC |
Xtrackers vs. UBS Fund Solutions | Xtrackers vs. Xtrackers Nikkei 225 | Xtrackers vs. iShares VII PLC | Xtrackers vs. SPDR Gold Shares |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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