Correlation Between Lyxor UCITS and 21Shares Bitwise
Can any of the company-specific risk be diversified away by investing in both Lyxor UCITS and 21Shares Bitwise 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 UCITS and 21Shares Bitwise into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lyxor UCITS Stoxx and 21Shares Bitwise Select, you can compare the effects of market volatilities on Lyxor UCITS and 21Shares Bitwise 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 UCITS with a short position of 21Shares Bitwise. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lyxor UCITS and 21Shares Bitwise.
Diversification Opportunities for Lyxor UCITS and 21Shares Bitwise
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lyxor and 21Shares is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lyxor UCITS Stoxx and 21Shares Bitwise Select in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 21Shares Bitwise Select and Lyxor UCITS 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 UCITS Stoxx are associated (or correlated) with 21Shares Bitwise. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 21Shares Bitwise Select has no effect on the direction of Lyxor UCITS i.e., Lyxor UCITS and 21Shares Bitwise go up and down completely randomly.
Pair Corralation between Lyxor UCITS and 21Shares Bitwise
If you would invest 5,927 in Lyxor UCITS Stoxx on June 1, 2025 and sell it today you would earn a total of 59.00 from holding Lyxor UCITS Stoxx or generate 1.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lyxor UCITS Stoxx vs. 21Shares Bitwise Select
Performance |
| Timeline |
| Lyxor UCITS Stoxx |
| 21Shares Bitwise Select |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Lyxor UCITS and 21Shares Bitwise Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lyxor UCITS and 21Shares Bitwise
The main advantage of trading using opposite Lyxor UCITS and 21Shares Bitwise positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lyxor UCITS position performs unexpectedly, 21Shares Bitwise 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 21Shares Bitwise will offset losses from the drop in 21Shares Bitwise's long position.| Lyxor UCITS vs. Lyxor Japan UCITS | Lyxor UCITS vs. Lyxor Euro Government | Lyxor UCITS vs. Lyxor MSCI China |
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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