Correlation Between AGNC INVESTMENT and Deutsche Wohnen
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By analyzing existing cross correlation between AGNC INVESTMENT and Deutsche Wohnen SE, you can compare the effects of market volatilities on AGNC INVESTMENT and Deutsche Wohnen 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 Deutsche Wohnen. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGNC INVESTMENT and Deutsche Wohnen.
Diversification Opportunities for AGNC INVESTMENT and Deutsche Wohnen
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between AGNC and Deutsche is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding AGNC INVESTMENT and Deutsche Wohnen SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Deutsche Wohnen SE 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 Deutsche Wohnen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Deutsche Wohnen SE has no effect on the direction of AGNC INVESTMENT i.e., AGNC INVESTMENT and Deutsche Wohnen go up and down completely randomly.
Pair Corralation between AGNC INVESTMENT and Deutsche Wohnen
Assuming the 90 days trading horizon AGNC INVESTMENT is expected to generate 1.23 times less return on investment than Deutsche Wohnen. But when comparing it to its historical volatility, AGNC INVESTMENT is 1.25 times less risky than Deutsche Wohnen. It trades about 0.2 of its potential returns per unit of risk. Deutsche Wohnen SE is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 2,270 in Deutsche Wohnen SE on November 7, 2024 and sell it today you would earn a total of 165.00 from holding Deutsche Wohnen SE or generate 7.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 91.3% |
| Values | Daily Returns |
AGNC INVESTMENT vs. Deutsche Wohnen SE
Performance |
| Timeline |
| AGNC INVESTMENT |
| Deutsche Wohnen SE |
AGNC INVESTMENT and Deutsche Wohnen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGNC INVESTMENT and Deutsche Wohnen
The main advantage of trading using opposite AGNC INVESTMENT and Deutsche Wohnen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGNC INVESTMENT position performs unexpectedly, Deutsche Wohnen 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 Deutsche Wohnen will offset losses from the drop in Deutsche Wohnen's long position.| AGNC INVESTMENT vs. FAST RETAIL ADR | AGNC INVESTMENT vs. Burlington Stores | AGNC INVESTMENT vs. Meiko Electronics Co | AGNC INVESTMENT vs. Arrow Electronics |
| Deutsche Wohnen vs. Gateway Real Estate | Deutsche Wohnen vs. Gateway Real Estate | Deutsche Wohnen vs. Gateway Real Estate | Deutsche Wohnen vs. TIMES CHINA HLDGS |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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