Correlation Between Washington Mutual and ACGCAP
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By analyzing existing cross correlation between Washington Mutual Investors and ACGCAP 195 30 JAN 26, you can compare the effects of market volatilities on Washington Mutual and ACGCAP 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 Washington Mutual with a short position of ACGCAP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Washington Mutual and ACGCAP.
Diversification Opportunities for Washington Mutual and ACGCAP
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Washington and ACGCAP is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Washington Mutual Investors and ACGCAP 195 30 JAN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACGCAP 195 30 and Washington Mutual 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 Washington Mutual Investors are associated (or correlated) with ACGCAP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACGCAP 195 30 has no effect on the direction of Washington Mutual i.e., Washington Mutual and ACGCAP go up and down completely randomly.
Pair Corralation between Washington Mutual and ACGCAP
Assuming the 90 days horizon Washington Mutual Investors is expected to generate 0.37 times more return on investment than ACGCAP. However, Washington Mutual Investors is 2.7 times less risky than ACGCAP. It trades about 0.29 of its potential returns per unit of risk. ACGCAP 195 30 JAN 26 is currently generating about -0.22 per unit of risk. If you would invest 6,150 in Washington Mutual Investors on November 3, 2024 and sell it today you would earn a total of 251.00 from holding Washington Mutual Investors or generate 4.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Washington Mutual Investors vs. ACGCAP 195 30 JAN 26
Performance |
| Timeline |
| Washington Mutual |
| ACGCAP 195 30 |
Washington Mutual and ACGCAP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Washington Mutual and ACGCAP
The main advantage of trading using opposite Washington Mutual and ACGCAP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Washington Mutual position performs unexpectedly, ACGCAP 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 ACGCAP will offset losses from the drop in ACGCAP's long position.| Washington Mutual vs. Neuberger Berman Real | Washington Mutual vs. Dunham Real Estate | Washington Mutual vs. Real Estate Ultrasector | Washington Mutual vs. Texton Property |
| ACGCAP vs. Cedar Realty Trust | ACGCAP vs. Western Acquisition Ventures | ACGCAP vs. Inflection Point Acquisition | ACGCAP vs. Proficient Auto Logistics, |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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