Correlation Between AerSale Corp and Saguaro Holdings
Can any of the company-specific risk be diversified away by investing in both AerSale Corp and Saguaro Holdings 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 Saguaro Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AerSale Corp and Saguaro Holdings Corp, you can compare the effects of market volatilities on AerSale Corp and Saguaro Holdings 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 Saguaro Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of AerSale Corp and Saguaro Holdings.
Diversification Opportunities for AerSale Corp and Saguaro Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AerSale and Saguaro is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AerSale Corp and Saguaro Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saguaro Holdings Corp 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 Saguaro Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saguaro Holdings Corp has no effect on the direction of AerSale Corp i.e., AerSale Corp and Saguaro Holdings go up and down completely randomly.
Pair Corralation between AerSale Corp and Saguaro Holdings
Given the investment horizon of 90 days AerSale Corp is expected to generate 0.72 times more return on investment than Saguaro Holdings. However, AerSale Corp is 1.39 times less risky than Saguaro Holdings. It trades about -0.04 of its potential returns per unit of risk. Saguaro Holdings Corp is currently generating about -0.04 per unit of risk. If you would invest 1,541 in AerSale Corp on September 12, 2024 and sell it today you would lose (912.00) from holding AerSale Corp or give up 59.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AerSale Corp vs. Saguaro Holdings Corp
Performance |
| Timeline |
| AerSale Corp |
| Saguaro Holdings Corp |
AerSale Corp and Saguaro Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AerSale Corp and Saguaro Holdings
The main advantage of trading using opposite AerSale Corp and Saguaro Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AerSale Corp position performs unexpectedly, Saguaro Holdings 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 Saguaro Holdings will offset losses from the drop in Saguaro Holdings' long position.| AerSale Corp vs. Grupo Aeroportuario del | AerSale Corp vs. Grupo Aeroportuario del | AerSale Corp vs. Corporacion America Airports | AerSale Corp vs. Aeroports de Paris |
| Saguaro Holdings vs. Chiba Bank Ltd | Saguaro Holdings vs. Mill City Ventures | Saguaro Holdings vs. Pentair PLC | Saguaro Holdings vs. AerSale Corp |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| CEOs Directory Screen CEOs from public companies around the world |