Correlation Between Xtrackers and HANetf ICAV
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By analyzing existing cross correlation between Xtrackers II and HANetf ICAV , you can compare the effects of market volatilities on Xtrackers and HANetf ICAV 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 Xtrackers with a short position of HANetf ICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xtrackers and HANetf ICAV.
Diversification Opportunities for Xtrackers and HANetf ICAV
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Xtrackers and HANetf is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers II and HANetf ICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HANetf ICAV and Xtrackers 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 Xtrackers II are associated (or correlated) with HANetf ICAV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HANetf ICAV has no effect on the direction of Xtrackers i.e., Xtrackers and HANetf ICAV go up and down completely randomly.
Pair Corralation between Xtrackers and HANetf ICAV
Assuming the 90 days trading horizon Xtrackers II is expected to generate 1.53 times more return on investment than HANetf ICAV. However, Xtrackers is 1.53 times more volatile than HANetf ICAV . It trades about 0.06 of its potential returns per unit of risk. HANetf ICAV is currently generating about -0.12 per unit of risk. If you would invest 751.00 in Xtrackers II on September 25, 2024 and sell it today you would earn a total of 10.00 from holding Xtrackers II or generate 1.33% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Xtrackers II vs. HANetf ICAV
Performance |
Timeline |
Xtrackers II |
HANetf ICAV |
Xtrackers and HANetf ICAV Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Xtrackers and HANetf ICAV
The main advantage of trading using opposite Xtrackers and HANetf ICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xtrackers position performs unexpectedly, HANetf ICAV 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 HANetf ICAV will offset losses from the drop in HANetf ICAV's long position.Xtrackers vs. UBS Fund Solutions | Xtrackers vs. Xtrackers Nikkei 225 | Xtrackers vs. iShares VII PLC | Xtrackers vs. SPDR Gold Shares |
HANetf ICAV vs. UBS Fund Solutions | HANetf ICAV vs. Xtrackers II | HANetf ICAV vs. Xtrackers Nikkei 225 | HANetf ICAV vs. iShares VII PLC |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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