Correlation Between AerSale Corp and SANDS
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By analyzing existing cross correlation between AerSale Corp and SANDS CHINA LTD, you can compare the effects of market volatilities on AerSale Corp and SANDS 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 SANDS. Check out your portfolio center. Please also check ongoing floating volatility patterns of AerSale Corp and SANDS.
Diversification Opportunities for AerSale Corp and SANDS
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AerSale and SANDS is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding AerSale Corp and SANDS CHINA LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SANDS CHINA LTD 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 SANDS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SANDS CHINA LTD has no effect on the direction of AerSale Corp i.e., AerSale Corp and SANDS go up and down completely randomly.
Pair Corralation between AerSale Corp and SANDS
Given the investment horizon of 90 days AerSale Corp is expected to generate 7.96 times more return on investment than SANDS. However, AerSale Corp is 7.96 times more volatile than SANDS CHINA LTD. It trades about 0.33 of its potential returns per unit of risk. SANDS CHINA LTD is currently generating about -0.19 per unit of risk. If you would invest 527.00 in AerSale Corp on September 1, 2024 and sell it today you would earn a total of 103.00 from holding AerSale Corp or generate 19.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
AerSale Corp vs. SANDS CHINA LTD
Performance |
| Timeline |
| AerSale Corp |
| SANDS CHINA LTD |
AerSale Corp and SANDS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AerSale Corp and SANDS
The main advantage of trading using opposite AerSale Corp and SANDS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AerSale Corp position performs unexpectedly, SANDS 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 SANDS will offset losses from the drop in SANDS's long position.| AerSale Corp vs. Corporacion America Airports | AerSale Corp vs. Aeroports de Paris | AerSale Corp vs. Japan Airport Terminal | AerSale Corp vs. Aena SME SA |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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