Correlation Between Brunswick and 26875PAN1
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By analyzing existing cross correlation between Brunswick and EOG RES INC, you can compare the effects of market volatilities on Brunswick and 26875PAN1 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 Brunswick with a short position of 26875PAN1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brunswick and 26875PAN1.
Diversification Opportunities for Brunswick and 26875PAN1
Poor diversification
The 3 months correlation between Brunswick and 26875PAN1 is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Brunswick and EOG RES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EOG RES INC and Brunswick 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 Brunswick are associated (or correlated) with 26875PAN1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EOG RES INC has no effect on the direction of Brunswick i.e., Brunswick and 26875PAN1 go up and down completely randomly.
Pair Corralation between Brunswick and 26875PAN1
Allowing for the 90-day total investment horizon Brunswick is expected to under-perform the 26875PAN1. In addition to that, Brunswick is 4.03 times more volatile than EOG RES INC. It trades about -0.37 of its total potential returns per unit of risk. EOG RES INC is currently generating about 0.23 per unit of volatility. If you would invest 8,882 in EOG RES INC on December 4, 2024 and sell it today you would earn a total of 193.00 from holding EOG RES INC or generate 2.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Brunswick vs. EOG RES INC
Performance |
| Timeline |
| Brunswick |
| EOG RES INC |
Brunswick and 26875PAN1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brunswick and 26875PAN1
The main advantage of trading using opposite Brunswick and 26875PAN1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brunswick position performs unexpectedly, 26875PAN1 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 26875PAN1 will offset losses from the drop in 26875PAN1's long position.| Brunswick vs. MCBC Holdings | Brunswick vs. Marine Products | Brunswick vs. Winnebago Industries | Brunswick vs. LCI Industries |
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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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