Correlation Between Ark Restaurants and EXELON
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By analyzing existing cross correlation between Ark Restaurants Corp and EXELON GENERATION LLC, you can compare the effects of market volatilities on Ark Restaurants and EXELON 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 Ark Restaurants with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ark Restaurants and EXELON.
Diversification Opportunities for Ark Restaurants and EXELON
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Ark and EXELON is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Ark Restaurants Corp and EXELON GENERATION LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON GENERATION LLC and Ark Restaurants 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 Ark Restaurants Corp are associated (or correlated) with EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON GENERATION LLC has no effect on the direction of Ark Restaurants i.e., Ark Restaurants and EXELON go up and down completely randomly.
Pair Corralation between Ark Restaurants and EXELON
Given the investment horizon of 90 days Ark Restaurants is expected to generate 6.41 times less return on investment than EXELON. In addition to that, Ark Restaurants is 2.91 times more volatile than EXELON GENERATION LLC. It trades about 0.0 of its total potential returns per unit of risk. EXELON GENERATION LLC is currently generating about 0.02 per unit of volatility. If you would invest 9,206 in EXELON GENERATION LLC on September 14, 2024 and sell it today you would earn a total of 495.00 from holding EXELON GENERATION LLC or generate 5.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.33% |
| Values | Daily Returns |
Ark Restaurants Corp vs. EXELON GENERATION LLC
Performance |
| Timeline |
| Ark Restaurants Corp |
| EXELON GENERATION LLC |
Ark Restaurants and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ark Restaurants and EXELON
The main advantage of trading using opposite Ark Restaurants and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ark Restaurants position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Ark Restaurants vs. Nathans Famous | Ark Restaurants vs. Flanigans Enterprises | Ark Restaurants vs. Good Times Restaurants | Ark Restaurants vs. Auburn National Bancorporation |
| EXELON vs. AEP TEX INC | EXELON vs. US BANK NATIONAL | EXELON vs. PayPal Holdings | EXELON vs. Alphabet Inc Class C |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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