Correlation Between AGNC INVESTMENT and Anfield Energy
Can any of the company-specific risk be diversified away by investing in both AGNC INVESTMENT and Anfield Energy 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 AGNC INVESTMENT and Anfield Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AGNC INVESTMENT and Anfield Energy, you can compare the effects of market volatilities on AGNC INVESTMENT and Anfield Energy 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 AGNC INVESTMENT with a short position of Anfield Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGNC INVESTMENT and Anfield Energy.
Diversification Opportunities for AGNC INVESTMENT and Anfield Energy
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AGNC and Anfield is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AGNC INVESTMENT and Anfield Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anfield Energy and AGNC INVESTMENT 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 AGNC INVESTMENT are associated (or correlated) with Anfield Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anfield Energy has no effect on the direction of AGNC INVESTMENT i.e., AGNC INVESTMENT and Anfield Energy go up and down completely randomly.
Pair Corralation between AGNC INVESTMENT and Anfield Energy
If you would invest 894.00 in AGNC INVESTMENT on October 25, 2024 and sell it today you would earn a total of 43.00 from holding AGNC INVESTMENT or generate 4.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AGNC INVESTMENT vs. Anfield Energy
Performance |
| Timeline |
| AGNC INVESTMENT |
| Anfield Energy |
AGNC INVESTMENT and Anfield Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGNC INVESTMENT and Anfield Energy
The main advantage of trading using opposite AGNC INVESTMENT and Anfield Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGNC INVESTMENT position performs unexpectedly, Anfield Energy 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 Anfield Energy will offset losses from the drop in Anfield Energy's long position.| AGNC INVESTMENT vs. Apple Inc | AGNC INVESTMENT vs. Apple Inc | AGNC INVESTMENT vs. Apple Inc | AGNC INVESTMENT vs. Apple Inc |
| Anfield Energy vs. CHINA SOUTHN AIR H | Anfield Energy vs. Wizz Air Holdings | Anfield Energy vs. TRAVEL LEISURE DL 01 | Anfield Energy vs. Delta Air Lines |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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