Correlation Between AerSale Corp and SIA Engineering
Can any of the company-specific risk be diversified away by investing in both AerSale Corp and SIA Engineering 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 AerSale Corp and SIA Engineering into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AerSale Corp and SIA Engineering, you can compare the effects of market volatilities on AerSale Corp and SIA Engineering 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 AerSale Corp with a short position of SIA Engineering. Check out your portfolio center. Please also check ongoing floating volatility patterns of AerSale Corp and SIA Engineering.
Diversification Opportunities for AerSale Corp and SIA Engineering
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AerSale and SIA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AerSale Corp and SIA Engineering in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIA Engineering and AerSale Corp 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 AerSale Corp are associated (or correlated) with SIA Engineering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIA Engineering has no effect on the direction of AerSale Corp i.e., AerSale Corp and SIA Engineering go up and down completely randomly.
Pair Corralation between AerSale Corp and SIA Engineering
If you would invest 693.00 in AerSale Corp on December 6, 2024 and sell it today you would earn a total of 14.00 from holding AerSale Corp or generate 2.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AerSale Corp vs. SIA Engineering
Performance |
| Timeline |
| AerSale Corp |
| SIA Engineering |
AerSale Corp and SIA Engineering Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AerSale Corp and SIA Engineering
The main advantage of trading using opposite AerSale Corp and SIA Engineering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AerSale Corp position performs unexpectedly, SIA Engineering 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 SIA Engineering will offset losses from the drop in SIA Engineering's long position.| AerSale Corp vs. Grupo Aeroportuario del | ||
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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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