Correlation Between Aegon NV and 49327V2C7
Specify exactly 2 symbols:
By analyzing existing cross correlation between Aegon NV ADR and KEY 49 08 AUG 32, you can compare the effects of market volatilities on Aegon NV and 49327V2C7 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 Aegon NV with a short position of 49327V2C7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and 49327V2C7.
Diversification Opportunities for Aegon NV and 49327V2C7
Average diversification
The 3 months correlation between Aegon and 49327V2C7 is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV ADR and KEY 49 08 AUG 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KEY 49 08 and Aegon NV 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 Aegon NV ADR are associated (or correlated) with 49327V2C7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KEY 49 08 has no effect on the direction of Aegon NV i.e., Aegon NV and 49327V2C7 go up and down completely randomly.
Pair Corralation between Aegon NV and 49327V2C7
Considering the 90-day investment horizon Aegon NV ADR is expected to generate 0.83 times more return on investment than 49327V2C7. However, Aegon NV ADR is 1.21 times less risky than 49327V2C7. It trades about -0.18 of its potential returns per unit of risk. KEY 49 08 AUG 32 is currently generating about -0.29 per unit of risk. If you would invest 629.00 in Aegon NV ADR on September 25, 2024 and sell it today you would lose (45.00) from holding Aegon NV ADR or give up 7.15% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 66.67% |
Values | Daily Returns |
Aegon NV ADR vs. KEY 49 08 AUG 32
Performance |
Timeline |
Aegon NV ADR |
KEY 49 08 |
Aegon NV and 49327V2C7 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Aegon NV and 49327V2C7
The main advantage of trading using opposite Aegon NV and 49327V2C7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, 49327V2C7 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 49327V2C7 will offset losses from the drop in 49327V2C7's long position.Aegon NV vs. Hartford Financial Services | Aegon NV vs. Goosehead Insurance | Aegon NV vs. International General Insurance | Aegon NV vs. Enstar Group Limited |
49327V2C7 vs. Sweetgreen | 49327V2C7 vs. The Cheesecake Factory | 49327V2C7 vs. Texas Roadhouse | 49327V2C7 vs. Aegon NV ADR |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Other Complementary Tools
Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
Global Correlations Find global opportunities by holding instruments from different markets | |
Equity Valuation Check real value of public entities based on technical and fundamental data |