Correlation Between BEKA LUX and Echiquier Entrepreneurs
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By analyzing existing cross correlation between BEKA LUX SICAV and Echiquier Entrepreneurs G, you can compare the effects of market volatilities on BEKA LUX and Echiquier Entrepreneurs 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 BEKA LUX with a short position of Echiquier Entrepreneurs. Check out your portfolio center. Please also check ongoing floating volatility patterns of BEKA LUX and Echiquier Entrepreneurs.
Diversification Opportunities for BEKA LUX and Echiquier Entrepreneurs
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between BEKA and Echiquier is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding BEKA LUX SICAV and Echiquier Entrepreneurs G in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Echiquier Entrepreneurs and BEKA LUX 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 BEKA LUX SICAV are associated (or correlated) with Echiquier Entrepreneurs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Echiquier Entrepreneurs has no effect on the direction of BEKA LUX i.e., BEKA LUX and Echiquier Entrepreneurs go up and down completely randomly.
Pair Corralation between BEKA LUX and Echiquier Entrepreneurs
Assuming the 90 days trading horizon BEKA LUX is expected to generate 4.51 times less return on investment than Echiquier Entrepreneurs. But when comparing it to its historical volatility, BEKA LUX SICAV is 3.37 times less risky than Echiquier Entrepreneurs. It trades about 0.05 of its potential returns per unit of risk. Echiquier Entrepreneurs G is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 188,987 in Echiquier Entrepreneurs G on September 9, 2024 and sell it today you would earn a total of 26,666 from holding Echiquier Entrepreneurs G or generate 14.11% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
BEKA LUX SICAV vs. Echiquier Entrepreneurs G
Performance |
Timeline |
BEKA LUX SICAV |
Echiquier Entrepreneurs |
BEKA LUX and Echiquier Entrepreneurs Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with BEKA LUX and Echiquier Entrepreneurs
The main advantage of trading using opposite BEKA LUX and Echiquier Entrepreneurs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BEKA LUX position performs unexpectedly, Echiquier Entrepreneurs 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 Echiquier Entrepreneurs will offset losses from the drop in Echiquier Entrepreneurs' long position.BEKA LUX vs. Esfera Robotics R | BEKA LUX vs. R co Valor F | BEKA LUX vs. CM AM Monplus NE | BEKA LUX vs. IE00B0H4TS55 |
Echiquier Entrepreneurs vs. Nova Europe ISR | Echiquier Entrepreneurs vs. Lyxor 1 | Echiquier Entrepreneurs vs. Xtrackers LevDAX | Echiquier Entrepreneurs vs. Xtrackers ShortDAX |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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