Correlation Between Church Crawford and Atlantic Energy
Can any of the company-specific risk be diversified away by investing in both Church Crawford and Atlantic Energy at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Church Crawford and Atlantic Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Church Crawford and Atlantic Energy Solutions, you can compare the effects of market volatilities on Church Crawford and Atlantic Energy 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 Church Crawford with a short position of Atlantic Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Church Crawford and Atlantic Energy.
Diversification Opportunities for Church Crawford and Atlantic Energy
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Church and Atlantic is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Church Crawford and Atlantic Energy Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atlantic Energy Solutions and Church Crawford 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 Church Crawford are associated (or correlated) with Atlantic Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlantic Energy Solutions has no effect on the direction of Church Crawford i.e., Church Crawford and Atlantic Energy go up and down completely randomly.
Pair Corralation between Church Crawford and Atlantic Energy
Given the investment horizon of 90 days Church Crawford is expected to generate 0.81 times more return on investment than Atlantic Energy. However, Church Crawford is 1.24 times less risky than Atlantic Energy. It trades about 0.23 of its potential returns per unit of risk. Atlantic Energy Solutions is currently generating about 0.13 per unit of risk. If you would invest 0.22 in Church Crawford on November 4, 2024 and sell it today you would earn a total of 0.17 from holding Church Crawford or generate 77.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 86.36% |
| Values | Daily Returns |
Church Crawford vs. Atlantic Energy Solutions
Performance |
| Timeline |
| Church Crawford |
| Atlantic Energy Solutions |
Church Crawford and Atlantic Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Church Crawford and Atlantic Energy
The main advantage of trading using opposite Church Crawford and Atlantic Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Church Crawford position performs unexpectedly, Atlantic Energy 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 Atlantic Energy will offset losses from the drop in Atlantic Energy's long position.| Church Crawford vs. Oncologix Tech | Church Crawford vs. JPX Global | Church Crawford vs. Profitable Develop | Church Crawford vs. Coastal Capital Acq |
| Atlantic Energy vs. Simulated Environmen | Atlantic Energy vs. Mundus Group | Atlantic Energy vs. Xtra Energy Corp |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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