Correlation Between Amundi SA and Carlyle Secured
Can any of the company-specific risk be diversified away by investing in both Amundi SA and Carlyle Secured 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 SA and Carlyle Secured into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amundi SA and Carlyle Secured Lending, you can compare the effects of market volatilities on Amundi SA and Carlyle Secured 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 SA with a short position of Carlyle Secured. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi SA and Carlyle Secured.
Diversification Opportunities for Amundi SA and Carlyle Secured
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amundi and Carlyle is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Amundi SA and Carlyle Secured Lending in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Carlyle Secured Lending and Amundi SA 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 SA are associated (or correlated) with Carlyle Secured. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Carlyle Secured Lending has no effect on the direction of Amundi SA i.e., Amundi SA and Carlyle Secured go up and down completely randomly.
Pair Corralation between Amundi SA and Carlyle Secured
Assuming the 90 days horizon Amundi SA is expected to generate 1.25 times less return on investment than Carlyle Secured. In addition to that, Amundi SA is 1.5 times more volatile than Carlyle Secured Lending. It trades about 0.04 of its total potential returns per unit of risk. Carlyle Secured Lending is currently generating about 0.07 per unit of volatility. If you would invest 1,099 in Carlyle Secured Lending on February 8, 2024 and sell it today you would earn a total of 643.00 from holding Carlyle Secured Lending or generate 58.51% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Amundi SA vs. Carlyle Secured Lending
Performance |
Timeline |
Amundi SA |
Carlyle Secured Lending |
Amundi SA and Carlyle Secured Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amundi SA and Carlyle Secured
The main advantage of trading using opposite Amundi SA and Carlyle Secured positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi SA position performs unexpectedly, Carlyle Secured 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 Carlyle Secured will offset losses from the drop in Carlyle Secured's long position.Amundi SA vs. Carlyle Secured Lending | Amundi SA vs. Sixth Street Specialty | Amundi SA vs. Golub Capital BDC | Amundi SA vs. Fidus Investment Corp |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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