Correlation Between Atrium Mortgage and Sun Peak
Can any of the company-specific risk be diversified away by investing in both Atrium Mortgage and Sun Peak 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 Atrium Mortgage and Sun Peak into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atrium Mortgage Investment and Sun Peak Metals, you can compare the effects of market volatilities on Atrium Mortgage and Sun Peak 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 Atrium Mortgage with a short position of Sun Peak. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atrium Mortgage and Sun Peak.
Diversification Opportunities for Atrium Mortgage and Sun Peak
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Atrium and Sun is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Atrium Mortgage Investment and Sun Peak Metals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sun Peak Metals and Atrium Mortgage 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 Atrium Mortgage Investment are associated (or correlated) with Sun Peak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sun Peak Metals has no effect on the direction of Atrium Mortgage i.e., Atrium Mortgage and Sun Peak go up and down completely randomly.
Pair Corralation between Atrium Mortgage and Sun Peak
Assuming the 90 days horizon Atrium Mortgage is expected to generate 4.37 times less return on investment than Sun Peak. But when comparing it to its historical volatility, Atrium Mortgage Investment is 5.66 times less risky than Sun Peak. It trades about 0.04 of its potential returns per unit of risk. Sun Peak Metals is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 30.00 in Sun Peak Metals on October 13, 2024 and sell it today you would earn a total of 0.00 from holding Sun Peak Metals or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atrium Mortgage Investment vs. Sun Peak Metals
Performance |
| Timeline |
| Atrium Mortgage Inve |
| Sun Peak Metals |
Atrium Mortgage and Sun Peak Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atrium Mortgage and Sun Peak
The main advantage of trading using opposite Atrium Mortgage and Sun Peak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atrium Mortgage position performs unexpectedly, Sun Peak 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 Sun Peak will offset losses from the drop in Sun Peak's long position.| Atrium Mortgage vs. Timbercreek Financial Corp | Atrium Mortgage vs. Firm Capital Mortgage | Atrium Mortgage vs. MCAN Mortgage | Atrium Mortgage vs. First National Financial |
| Sun Peak vs. High Liner Foods | Sun Peak vs. Atrium Mortgage Investment | Sun Peak vs. Canadian General Investments | Sun Peak vs. Lion One Metals |
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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