Correlation Between Ossiam Shiller and Ossiam Global

Can any of the company-specific risk be diversified away by investing in both Ossiam Shiller and Ossiam Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Ossiam Shiller and Ossiam Global into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Ossiam Shiller Barclays and Ossiam Global Multi Asset, you can compare the effects of market volatilities on Ossiam Shiller and Ossiam Global 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 Ossiam Shiller with a short position of Ossiam Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ossiam Shiller and Ossiam Global.

Diversification Opportunities for Ossiam Shiller and Ossiam Global

0.0

Correlation Coefficient

Ossiam Shiller  Ossiam Global

Pay attention - limited upside

The 3 months correlation between Ossiam and Ossiam is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ossiam Shiller Barclays and Ossiam Global Multi Asset in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ossiam Global Multi and Ossiam Shiller 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 Ossiam Shiller Barclays are associated (or correlated) with Ossiam Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ossiam Global Multi has no effect on the direction of Ossiam Shiller i.e., Ossiam Shiller and Ossiam Global go up and down completely randomly.

Pair Corralation between Ossiam Shiller and Ossiam Global

If you would invest  50,540  in Ossiam Shiller Barclays on November 29, 2024 and sell it today you would earn a total of  3,040  from holding Ossiam Shiller Barclays or generate 6.02% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Ossiam Shiller Barclays  vs.  Ossiam Global Multi Asset

Ossiam Shiller Barclays

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Ossiam Shiller Barclays are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite somewhat strong basic indicators, Ossiam Shiller is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Ossiam Global Multi

Risk-Adjusted Performance

Very Weak

Over the last 90 days Ossiam Global Multi Asset has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, Ossiam Global is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Pair Trading with Ossiam Shiller and Ossiam Global

The main advantage of trading using opposite Ossiam Shiller and Ossiam Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ossiam Shiller position performs unexpectedly, Ossiam Global 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 Ossiam Global will offset losses from the drop in Ossiam Global's long position.

The idea behind Ossiam Shiller Barclays and Ossiam Global Multi Asset pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .