Correlation Between American Express and UOBSP
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By analyzing existing cross correlation between American Express and UOBSP 3863 07 OCT 32, you can compare the effects of market volatilities on American Express and UOBSP 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 UOBSP. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Express and UOBSP.
Diversification Opportunities for American Express and UOBSP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between American and UOBSP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding American Express and UOBSP 3863 07 OCT 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UOBSP 3863 07 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 UOBSP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UOBSP 3863 07 has no effect on the direction of American Express i.e., American Express and UOBSP go up and down completely randomly.
Pair Corralation between American Express and UOBSP
If you would invest 0.00 in UOBSP 3863 07 OCT 32 on January 16, 2025 and sell it today you would earn a total of 0.00 from holding UOBSP 3863 07 OCT 32 or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.35% |
| Values | Daily Returns |
American Express vs. UOBSP 3863 07 OCT 32
Performance |
| Timeline |
| American Express |
| UOBSP 3863 07 |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
American Express and UOBSP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with American Express and UOBSP
The main advantage of trading using opposite American Express and UOBSP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Express position performs unexpectedly, UOBSP 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 UOBSP will offset losses from the drop in UOBSP's long position.| American Express vs. Ameritrans Capital Corp | American Express vs. MicroAlgo | American Express vs. Summa Silver Corp | American Express vs. Invesco California Value |
| UOBSP vs. Pintec Technology Holdings | UOBSP vs. Summit Bank Group | UOBSP vs. Malaga Financial | UOBSP vs. Global E Online |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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