Correlation Between Acco Brands and FMEGR
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By analyzing existing cross correlation between Acco Brands and FMEGR 2375 16 FEB 31, you can compare the effects of market volatilities on Acco Brands and FMEGR 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 Acco Brands with a short position of FMEGR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Acco Brands and FMEGR.
Diversification Opportunities for Acco Brands and FMEGR
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Acco and FMEGR is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Acco Brands and FMEGR 2375 16 FEB 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FMEGR 2375 16 and Acco Brands 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 Acco Brands are associated (or correlated) with FMEGR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FMEGR 2375 16 has no effect on the direction of Acco Brands i.e., Acco Brands and FMEGR go up and down completely randomly.
Pair Corralation between Acco Brands and FMEGR
Given the investment horizon of 90 days Acco Brands is expected to under-perform the FMEGR. In addition to that, Acco Brands is 7.17 times more volatile than FMEGR 2375 16 FEB 31. It trades about -0.01 of its total potential returns per unit of risk. FMEGR 2375 16 FEB 31 is currently generating about 0.35 per unit of volatility. If you would invest 8,235 in FMEGR 2375 16 FEB 31 on September 12, 2024 and sell it today you would earn a total of 173.00 from holding FMEGR 2375 16 FEB 31 or generate 2.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Acco Brands vs. FMEGR 2375 16 FEB 31
Performance |
| Timeline |
| Acco Brands |
| FMEGR 2375 16 |
Acco Brands and FMEGR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Acco Brands and FMEGR
The main advantage of trading using opposite Acco Brands and FMEGR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Acco Brands position performs unexpectedly, FMEGR 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 FMEGR will offset losses from the drop in FMEGR's long position.| Acco Brands vs. HNI Corp | Acco Brands vs. Steelcase | Acco Brands vs. Ennis Inc | Acco Brands vs. Acacia Research |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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