Correlation Between Lyxor Fed and HANetf ICAV
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By analyzing existing cross correlation between Lyxor Fed Funds and HANetf ICAV , you can compare the effects of market volatilities on Lyxor Fed 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 Lyxor Fed with a short position of HANetf ICAV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lyxor Fed and HANetf ICAV.
Diversification Opportunities for Lyxor Fed and HANetf ICAV
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Lyxor and HANetf is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Lyxor Fed Funds and HANetf ICAV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HANetf ICAV and Lyxor Fed 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 Lyxor Fed Funds 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 Lyxor Fed i.e., Lyxor Fed and HANetf ICAV go up and down completely randomly.
Pair Corralation between Lyxor Fed and HANetf ICAV
Assuming the 90 days trading horizon Lyxor Fed is expected to generate 2.04 times less return on investment than HANetf ICAV. But when comparing it to its historical volatility, Lyxor Fed Funds is 3.88 times less risky than HANetf ICAV. It trades about 0.31 of its potential returns per unit of risk. HANetf ICAV is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 1,195 in HANetf ICAV on September 25, 2024 and sell it today you would earn a total of 213.00 from holding HANetf ICAV or generate 17.82% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 98.46% |
Values | Daily Returns |
Lyxor Fed Funds vs. HANetf ICAV
Performance |
Timeline |
Lyxor Fed Funds |
HANetf ICAV |
Lyxor Fed and HANetf ICAV Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lyxor Fed and HANetf ICAV
The main advantage of trading using opposite Lyxor Fed and HANetf ICAV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lyxor Fed 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.Lyxor Fed vs. UBS Fund Solutions | Lyxor Fed vs. Xtrackers II | Lyxor Fed vs. Xtrackers Nikkei 225 | Lyxor Fed vs. iShares VII PLC |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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