Correlation Between American Airlines and 14913R3C9
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By analyzing existing cross correlation between American Airlines Group and CAT 54 10 MAR 25, you can compare the effects of market volatilities on American Airlines and 14913R3C9 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 American Airlines with a short position of 14913R3C9. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Airlines and 14913R3C9.
Diversification Opportunities for American Airlines and 14913R3C9
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between American and 14913R3C9 is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding American Airlines Group and CAT 54 10 MAR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CAT 54 10 and American Airlines 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 American Airlines Group are associated (or correlated) with 14913R3C9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CAT 54 10 has no effect on the direction of American Airlines i.e., American Airlines and 14913R3C9 go up and down completely randomly.
Pair Corralation between American Airlines and 14913R3C9
Considering the 90-day investment horizon American Airlines Group is expected to generate 22.32 times more return on investment than 14913R3C9. However, American Airlines is 22.32 times more volatile than CAT 54 10 MAR 25. It trades about 0.01 of its potential returns per unit of risk. CAT 54 10 MAR 25 is currently generating about -0.08 per unit of risk. If you would invest 1,700 in American Airlines Group on November 3, 2024 and sell it today you would lose (8.00) from holding American Airlines Group or give up 0.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
American Airlines Group vs. CAT 54 10 MAR 25
Performance |
| Timeline |
| American Airlines |
| CAT 54 10 |
American Airlines and 14913R3C9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with American Airlines and 14913R3C9
The main advantage of trading using opposite American Airlines and 14913R3C9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Airlines position performs unexpectedly, 14913R3C9 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 14913R3C9 will offset losses from the drop in 14913R3C9's long position.| American Airlines vs. Delta Air Lines | American Airlines vs. Southwest Airlines | American Airlines vs. JetBlue Airways Corp | American Airlines vs. United Airlines Holdings |
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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