Correlation Between Amundi Treasury and International Business
Can any of the company-specific risk be diversified away by investing in both Amundi Treasury and International Business 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 Amundi Treasury and International Business into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi Treasury Bond and International Business Machines, you can compare the effects of market volatilities on Amundi Treasury and International Business 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 Treasury with a short position of International Business. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi Treasury and International Business.
Diversification Opportunities for Amundi Treasury and International Business
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Amundi and International is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Amundi Treasury Bond and International Business Machine in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on International Business and Amundi Treasury 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 Treasury Bond are associated (or correlated) with International Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Business has no effect on the direction of Amundi Treasury i.e., Amundi Treasury and International Business go up and down completely randomly.
Pair Corralation between Amundi Treasury and International Business
If you would invest 11,895 in International Business Machines on September 6, 2024 and sell it today you would earn a total of 0.00 from holding International Business Machines or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 67.69% |
Values | Daily Returns |
Amundi Treasury Bond vs. International Business Machine
Performance |
Timeline |
Amundi Treasury Bond |
International Business |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Amundi Treasury and International Business Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amundi Treasury and International Business
The main advantage of trading using opposite Amundi Treasury and International Business positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi Treasury position performs unexpectedly, International Business 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 International Business will offset losses from the drop in International Business' long position.Amundi Treasury vs. Amundi EUR High | Amundi Treasury vs. Amundi Index Solutions | Amundi Treasury vs. Amundi MSCI Pacific | Amundi Treasury vs. Amundi MSCI Europe |
International Business vs. Nordic Semiconductor ASA | International Business vs. Tatton Asset Management | International Business vs. Metals Exploration Plc | International Business vs. Auto Trader Group |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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