Correlation Between American Airlines and DEUTSCHE
Specify exactly 2 symbols:
By analyzing existing cross correlation between American Airlines Group and DEUTSCHE BANK AG, you can compare the effects of market volatilities on American Airlines and DEUTSCHE 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 DEUTSCHE. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Airlines and DEUTSCHE.
Diversification Opportunities for American Airlines and DEUTSCHE
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between American and DEUTSCHE is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding American Airlines Group and DEUTSCHE BANK AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DEUTSCHE BANK AG 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 DEUTSCHE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DEUTSCHE BANK AG has no effect on the direction of American Airlines i.e., American Airlines and DEUTSCHE go up and down completely randomly.
Pair Corralation between American Airlines and DEUTSCHE
Considering the 90-day investment horizon American Airlines Group is expected to generate 12.41 times more return on investment than DEUTSCHE. However, American Airlines is 12.41 times more volatile than DEUTSCHE BANK AG. It trades about 0.26 of its potential returns per unit of risk. DEUTSCHE BANK AG is currently generating about 0.1 per unit of risk. If you would invest 1,692 in American Airlines Group on October 14, 2024 and sell it today you would earn a total of 146.00 from holding American Airlines Group or generate 8.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 78.95% |
| Values | Daily Returns |
American Airlines Group vs. DEUTSCHE BANK AG
Performance |
| Timeline |
| American Airlines |
| DEUTSCHE BANK AG |
American Airlines and DEUTSCHE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with American Airlines and DEUTSCHE
The main advantage of trading using opposite American Airlines and DEUTSCHE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Airlines position performs unexpectedly, DEUTSCHE 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 will offset losses from the drop in DEUTSCHE'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 |
| DEUTSCHE vs. Hudson Technologies | DEUTSCHE vs. American Airlines Group | DEUTSCHE vs. Hawkins | DEUTSCHE vs. International Consolidated Airlines |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Other Complementary Tools
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Commodity Directory Find actively traded commodities issued by global exchanges |