Correlation Between FDG Electric and UNILEVER
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By analyzing existing cross correlation between FDG Electric Vehicles and UNILEVER CAP P, you can compare the effects of market volatilities on FDG Electric and UNILEVER 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 FDG Electric with a short position of UNILEVER. Check out your portfolio center. Please also check ongoing floating volatility patterns of FDG Electric and UNILEVER.
Diversification Opportunities for FDG Electric and UNILEVER
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FDG and UNILEVER is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FDG Electric Vehicles and UNILEVER CAP P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UNILEVER CAP P and FDG Electric 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 FDG Electric Vehicles are associated (or correlated) with UNILEVER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UNILEVER CAP P has no effect on the direction of FDG Electric i.e., FDG Electric and UNILEVER go up and down completely randomly.
Pair Corralation between FDG Electric and UNILEVER
If you would invest 0.01 in FDG Electric Vehicles on August 29, 2024 and sell it today you would earn a total of 0.00 from holding FDG Electric Vehicles or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 68.18% |
| Values | Daily Returns |
FDG Electric Vehicles vs. UNILEVER CAP P
Performance |
| Timeline |
| FDG Electric Vehicles |
| UNILEVER CAP P |
FDG Electric and UNILEVER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FDG Electric and UNILEVER
The main advantage of trading using opposite FDG Electric and UNILEVER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FDG Electric position performs unexpectedly, UNILEVER 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 UNILEVER will offset losses from the drop in UNILEVER's long position.| FDG Electric vs. Allison Transmission Holdings | FDG Electric vs. Luminar Technologies | FDG Electric vs. Lear Corporation | FDG Electric vs. BorgWarner |
| UNILEVER vs. Iridium Communications | UNILEVER vs. Magna International | UNILEVER vs. FDG Electric Vehicles | UNILEVER vs. PACCAR Inc |
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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