Correlation Between Lyxor Epsilon and CVS Health

By analyzing existing cross correlation between Lyxor Epsilon Managed and CVS Health, you can compare the effects of market volatilities on Lyxor Epsilon and CVS Health 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 Epsilon with a short position of CVS Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lyxor Epsilon and CVS Health.

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Can any of the company-specific risk be diversified away by investing in both Lyxor Epsilon and CVS Health 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 Epsilon and CVS Health into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for Lyxor Epsilon and CVS Health

0.0
  Correlation Coefficient
Lyxor Epsilon Managed
CVS Health

Pay attention - limited upside

The 3 months correlation between Lyxor and CVS Health is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lyxor Epsilon Managed Futures and CVS Health Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CVS Health and Lyxor Epsilon 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 Epsilon Managed are associated (or correlated) with CVS Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CVS Health has no effect on the direction of Lyxor Epsilon i.e. Lyxor Epsilon and CVS Health go up and down completely randomly.

Pair Corralation between Lyxor Epsilon and CVS Health

If you would invest  5,896  in CVS Health on June 11, 2020 and sell it today you would earn a total of  369.00  from holding CVS Health or generate 6.26% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Lyxor Epsilon Managed Futures  vs.  CVS Health Corp.

 Performance (%) 
      Timeline 
Lyxor Epsilon Managed 
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Risk-Adjusted Fund Performance

Over the last 30 days Lyxor Epsilon Managed has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly stable primary indicators, Lyxor Epsilon is not utilizing all of its potentials. The current stock price fuss, may contribute to near short-term losses for the insiders.
CVS Health 
44

CVS Health Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CVS Health are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively fragile forward-looking signals, CVS Health may actually be approaching a critical reversion point that can send shares even higher in August 2020.

Lyxor Epsilon and CVS Health Volatility Contrast

Check out your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
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