Correlation Between Amundi MSCI and LG Gerd
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By analyzing existing cross correlation between Amundi MSCI Europe and LG Gerd Kommer, you can compare the effects of market volatilities on Amundi MSCI and LG Gerd 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 LG Gerd. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi MSCI and LG Gerd.
Diversification Opportunities for Amundi MSCI and LG Gerd
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Amundi and GERD is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Amundi MSCI Europe and LG Gerd Kommer in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LG Gerd Kommer 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 Europe are associated (or correlated) with LG Gerd. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LG Gerd Kommer has no effect on the direction of Amundi MSCI i.e., Amundi MSCI and LG Gerd go up and down completely randomly.
Pair Corralation between Amundi MSCI and LG Gerd
Assuming the 90 days trading horizon Amundi MSCI Europe is expected to generate 10.93 times more return on investment than LG Gerd. However, Amundi MSCI is 10.93 times more volatile than LG Gerd Kommer. It trades about 0.05 of its potential returns per unit of risk. LG Gerd Kommer is currently generating about 0.1 per unit of risk. If you would invest 2,337 in Amundi MSCI Europe on September 23, 2024 and sell it today you would earn a total of 5,415 from holding Amundi MSCI Europe or generate 231.71% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 76.53% |
Values | Daily Returns |
Amundi MSCI Europe vs. LG Gerd Kommer
Performance |
Timeline |
Amundi MSCI Europe |
LG Gerd Kommer |
Amundi MSCI and LG Gerd Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amundi MSCI and LG Gerd
The main advantage of trading using opposite Amundi MSCI and LG Gerd positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi MSCI position performs unexpectedly, LG Gerd 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 LG Gerd will offset losses from the drop in LG Gerd's long position.Amundi MSCI vs. UBS Fund Solutions | Amundi MSCI vs. Xtrackers II | Amundi MSCI vs. Xtrackers Nikkei 225 | Amundi MSCI vs. iShares VII PLC |
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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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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