Correlation Between AMC Preferred and Sanwire
Can any of the company-specific risk be diversified away by investing in both AMC Preferred and Sanwire 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 AMC Preferred and Sanwire into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMC Preferred Units and Sanwire, you can compare the effects of market volatilities on AMC Preferred and Sanwire 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 AMC Preferred with a short position of Sanwire. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMC Preferred and Sanwire.
Diversification Opportunities for AMC Preferred and Sanwire
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between AMC and Sanwire is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding AMC Preferred Units and Sanwire in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sanwire and AMC Preferred 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 AMC Preferred Units are associated (or correlated) with Sanwire. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sanwire has no effect on the direction of AMC Preferred i.e., AMC Preferred and Sanwire go up and down completely randomly.
Pair Corralation between AMC Preferred and Sanwire
If you would invest 180.00 in AMC Preferred Units on August 30, 2024 and sell it today you would earn a total of 0.00 from holding AMC Preferred Units or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 4.55% |
| Values | Daily Returns |
AMC Preferred Units vs. Sanwire
Performance |
| Timeline |
| AMC Preferred Units |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Sanwire |
AMC Preferred and Sanwire Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMC Preferred and Sanwire
The main advantage of trading using opposite AMC Preferred and Sanwire positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMC Preferred position performs unexpectedly, Sanwire 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 Sanwire will offset losses from the drop in Sanwire's long position.| AMC Preferred vs. Netflix | AMC Preferred vs. Walt Disney | AMC Preferred vs. Roku Inc | AMC Preferred vs. Paramount Global Class |
| Sanwire vs. SNM Gobal Holdings | Sanwire vs. All For One | Sanwire vs. Ggtoor Inc | Sanwire vs. Hanover House |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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