Correlation Between Air Products and BPCEGP
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By analyzing existing cross correlation between Air Products and and BPCEGP 45 15 MAR 25, you can compare the effects of market volatilities on Air Products and BPCEGP 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 Air Products with a short position of BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Air Products and BPCEGP.
Diversification Opportunities for Air Products and BPCEGP
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Air and BPCEGP is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Air Products and and BPCEGP 45 15 MAR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 45 15 and Air Products 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 Air Products and are associated (or correlated) with BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 45 15 has no effect on the direction of Air Products i.e., Air Products and BPCEGP go up and down completely randomly.
Pair Corralation between Air Products and BPCEGP
If you would invest 9,866 in BPCEGP 45 15 MAR 25 on January 14, 2025 and sell it today you would earn a total of 0.00 from holding BPCEGP 45 15 MAR 25 or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 9.52% |
| Values | Daily Returns |
Air Products and vs. BPCEGP 45 15 MAR 25
Performance |
| Timeline |
| Air Products |
| BPCEGP 45 15 |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Air Products and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Air Products and BPCEGP
The main advantage of trading using opposite Air Products and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Air Products position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.| Air Products vs. PPG Industries | Air Products vs. Sherwin Williams Co | Air Products vs. Ecolab Inc | Air Products vs. Albemarle Corp |
| BPCEGP vs. American Airlines Group | BPCEGP vs. Galaxy Gaming | BPCEGP vs. Evolution Gaming Group | BPCEGP vs. Take Two Interactive Software |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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