Correlation Between Xtrackers Physical and Amundi Physical
Can any of the company-specific risk be diversified away by investing in both Xtrackers Physical and Amundi Physical 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 Xtrackers Physical and Amundi Physical into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xtrackers Physical Gold and Amundi Physical Gold, you can compare the effects of market volatilities on Xtrackers Physical and Amundi Physical 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 Xtrackers Physical with a short position of Amundi Physical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xtrackers Physical and Amundi Physical.
Diversification Opportunities for Xtrackers Physical and Amundi Physical
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xtrackers and Amundi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers Physical Gold and Amundi Physical Gold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Physical Gold and Xtrackers Physical 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 Xtrackers Physical Gold are associated (or correlated) with Amundi Physical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Physical Gold has no effect on the direction of Xtrackers Physical i.e., Xtrackers Physical and Amundi Physical go up and down completely randomly.
Pair Corralation between Xtrackers Physical and Amundi Physical
If you would invest 32,048 in Xtrackers Physical Gold on August 14, 2025 and sell it today you would earn a total of 7,358 from holding Xtrackers Physical Gold or generate 22.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Xtrackers Physical Gold vs. Amundi Physical Gold
Performance |
| Timeline |
| Xtrackers Physical Gold |
| Amundi Physical Gold |
Risk-Adjusted Performance
Solid
Weak | Strong |
Xtrackers Physical and Amundi Physical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xtrackers Physical and Amundi Physical
The main advantage of trading using opposite Xtrackers Physical and Amundi Physical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xtrackers Physical position performs unexpectedly, Amundi Physical 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 Physical will offset losses from the drop in Amundi Physical's long position.| Xtrackers Physical vs. American Homes 4 | Xtrackers Physical vs. Dairy Farm International | Xtrackers Physical vs. Verizon Communications | Xtrackers Physical vs. Virgin Wines UK |
| Amundi Physical vs. Ashtead Technology Holdings | Amundi Physical vs. Tyson Foods Cl | Amundi Physical vs. Flow Traders NV | Amundi Physical vs. Bytes Technology |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |