Correlation Between AerSale Corp and 552953CD1
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By analyzing existing cross correlation between AerSale Corp and MGM Resorts International, you can compare the effects of market volatilities on AerSale Corp and 552953CD1 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 552953CD1. Check out your portfolio center. Please also check ongoing floating volatility patterns of AerSale Corp and 552953CD1.
Diversification Opportunities for AerSale Corp and 552953CD1
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between AerSale and 552953CD1 is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding AerSale Corp and MGM Resorts International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MGM Resorts International 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 552953CD1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MGM Resorts International has no effect on the direction of AerSale Corp i.e., AerSale Corp and 552953CD1 go up and down completely randomly.
Pair Corralation between AerSale Corp and 552953CD1
Given the investment horizon of 90 days AerSale Corp is expected to generate 6.07 times more return on investment than 552953CD1. However, AerSale Corp is 6.07 times more volatile than MGM Resorts International. It trades about 0.12 of its potential returns per unit of risk. MGM Resorts International is currently generating about -0.12 per unit of risk. If you would invest 513.00 in AerSale Corp on September 12, 2024 and sell it today you would earn a total of 116.00 from holding AerSale Corp or generate 22.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
AerSale Corp vs. MGM Resorts International
Performance |
| Timeline |
| AerSale Corp |
| MGM Resorts International |
AerSale Corp and 552953CD1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AerSale Corp and 552953CD1
The main advantage of trading using opposite AerSale Corp and 552953CD1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AerSale Corp position performs unexpectedly, 552953CD1 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 552953CD1 will offset losses from the drop in 552953CD1's 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 |
| 552953CD1 vs. LENSAR Inc | 552953CD1 vs. Arrow Financial | 552953CD1 vs. Tandem Diabetes Care | 552953CD1 vs. BW Offshore Limited |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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