Correlation Between Baloise Holding and 21Shares Ethereum
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By analyzing existing cross correlation between Baloise Holding AG and 21Shares Ethereum Staking, you can compare the effects of market volatilities on Baloise Holding and 21Shares Ethereum 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 Baloise Holding with a short position of 21Shares Ethereum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baloise Holding and 21Shares Ethereum.
Diversification Opportunities for Baloise Holding and 21Shares Ethereum
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Baloise and 21Shares is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Baloise Holding AG and 21Shares Ethereum Staking in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 21Shares Ethereum Staking and Baloise Holding 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 Baloise Holding AG are associated (or correlated) with 21Shares Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 21Shares Ethereum Staking has no effect on the direction of Baloise Holding i.e., Baloise Holding and 21Shares Ethereum go up and down completely randomly.
Pair Corralation between Baloise Holding and 21Shares Ethereum
Assuming the 90 days trading horizon Baloise Holding AG is expected to generate 0.16 times more return on investment than 21Shares Ethereum. However, Baloise Holding AG is 6.27 times less risky than 21Shares Ethereum. It trades about 0.12 of its potential returns per unit of risk. 21Shares Ethereum Staking is currently generating about -0.13 per unit of risk. If you would invest 16,500 in Baloise Holding AG on October 7, 2024 and sell it today you would earn a total of 220.00 from holding Baloise Holding AG or generate 1.33% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Baloise Holding AG vs. 21Shares Ethereum Staking
Performance |
Timeline |
Baloise Holding AG |
21Shares Ethereum Staking |
Baloise Holding and 21Shares Ethereum Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Baloise Holding and 21Shares Ethereum
The main advantage of trading using opposite Baloise Holding and 21Shares Ethereum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baloise Holding position performs unexpectedly, 21Shares Ethereum 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 21Shares Ethereum will offset losses from the drop in 21Shares Ethereum's long position.Baloise Holding vs. Swiss Life Holding | Baloise Holding vs. Helvetia Holding AG | Baloise Holding vs. Swisscom AG | Baloise Holding vs. Zurich Insurance Group |
21Shares Ethereum vs. UBSFund Solutions MSCI | 21Shares Ethereum vs. Vanguard SP 500 | 21Shares Ethereum vs. iShares Core SP | 21Shares Ethereum vs. iShares Core MSCI |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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