Correlation Between American Express and 55261FAQ7
Specify exactly 2 symbols:
By analyzing existing cross correlation between American Express and MTB 4553 16 AUG 28, you can compare the effects of market volatilities on American Express and 55261FAQ7 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 American Express with a short position of 55261FAQ7. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Express and 55261FAQ7.
Diversification Opportunities for American Express and 55261FAQ7
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between American and 55261FAQ7 is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding American Express and MTB 4553 16 AUG 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MTB 4553 16 and American Express 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 American Express are associated (or correlated) with 55261FAQ7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MTB 4553 16 has no effect on the direction of American Express i.e., American Express and 55261FAQ7 go up and down completely randomly.
Pair Corralation between American Express and 55261FAQ7
Considering the 90-day investment horizon American Express is expected to under-perform the 55261FAQ7. In addition to that, American Express is 1.27 times more volatile than MTB 4553 16 AUG 28. It trades about -0.48 of its total potential returns per unit of risk. MTB 4553 16 AUG 28 is currently generating about -0.2 per unit of volatility. If you would invest 9,905 in MTB 4553 16 AUG 28 on December 8, 2024 and sell it today you would lose (412.00) from holding MTB 4553 16 AUG 28 or give up 4.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 81.82% |
| Values | Daily Returns |
American Express vs. MTB 4553 16 AUG 28
Performance |
| Timeline |
| American Express |
| MTB 4553 16 |
American Express and 55261FAQ7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with American Express and 55261FAQ7
The main advantage of trading using opposite American Express and 55261FAQ7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Express position performs unexpectedly, 55261FAQ7 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 55261FAQ7 will offset losses from the drop in 55261FAQ7's long position.| American Express vs. Visa Class A | ||
| American Express vs. PayPal Holdings | ||
| American Express vs. Capital One Financial | ||
| American Express vs. Upstart Holdings |
| 55261FAQ7 vs. MobileSmith | ||
| 55261FAQ7 vs. Lincoln Electric Holdings | ||
| 55261FAQ7 vs. Copa Holdings SA | ||
| 55261FAQ7 vs. International Consolidated Airlines |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |