Correlation Between Lyxor MSCI and Amundi Index
Can any of the company-specific risk be diversified away by investing in both Lyxor MSCI and Amundi Index 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 Lyxor MSCI and Amundi Index into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lyxor MSCI Europe and Amundi Index Solutions, you can compare the effects of market volatilities on Lyxor MSCI and Amundi Index 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 MSCI with a short position of Amundi Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lyxor MSCI and Amundi Index.
Diversification Opportunities for Lyxor MSCI and Amundi Index
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lyxor and Amundi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lyxor MSCI Europe and Amundi Index Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Index Solutions and Lyxor MSCI 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 MSCI Europe are associated (or correlated) with Amundi Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Index Solutions has no effect on the direction of Lyxor MSCI i.e., Lyxor MSCI and Amundi Index go up and down completely randomly.
Pair Corralation between Lyxor MSCI and Amundi Index
If you would invest 0.00 in Amundi Index Solutions on March 8, 2024 and sell it today you would earn a total of 0.00 from holding Amundi Index Solutions or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Lyxor MSCI Europe vs. Amundi Index Solutions
Performance |
Timeline |
Lyxor MSCI Europe |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Amundi Index Solutions |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Lyxor MSCI and Amundi Index Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lyxor MSCI and Amundi Index
The main advantage of trading using opposite Lyxor MSCI and Amundi Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lyxor MSCI position performs unexpectedly, Amundi Index 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 Amundi Index will offset losses from the drop in Amundi Index's long position.Lyxor MSCI vs. Lyxor STOXX Europe | Lyxor MSCI vs. Lyxor Japan UCITS | Lyxor MSCI vs. Lyxor Euro Government | Lyxor MSCI vs. Lyxor MSCI China |
Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Index Solutions |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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