Correlation Between CF Industries and 22966RAE6
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By analyzing existing cross correlation between CF Industries Holdings and CUBESMART L P, you can compare the effects of market volatilities on CF Industries and 22966RAE6 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 CF Industries with a short position of 22966RAE6. Check out your portfolio center. Please also check ongoing floating volatility patterns of CF Industries and 22966RAE6.
Diversification Opportunities for CF Industries and 22966RAE6
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CF Industries and 22966RAE6 is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding CF Industries Holdings and CUBESMART L P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CUBESMART L P and CF Industries 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 CF Industries Holdings are associated (or correlated) with 22966RAE6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CUBESMART L P has no effect on the direction of CF Industries i.e., CF Industries and 22966RAE6 go up and down completely randomly.
Pair Corralation between CF Industries and 22966RAE6
Allowing for the 90-day total investment horizon CF Industries Holdings is expected to generate 2.39 times more return on investment than 22966RAE6. However, CF Industries is 2.39 times more volatile than CUBESMART L P. It trades about 0.13 of its potential returns per unit of risk. CUBESMART L P is currently generating about -0.23 per unit of risk. If you would invest 8,583 in CF Industries Holdings on November 3, 2024 and sell it today you would earn a total of 638.00 from holding CF Industries Holdings or generate 7.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 66.67% |
| Values | Daily Returns |
CF Industries Holdings vs. CUBESMART L P
Performance |
| Timeline |
| CF Industries Holdings |
| CUBESMART L P |
CF Industries and 22966RAE6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CF Industries and 22966RAE6
The main advantage of trading using opposite CF Industries and 22966RAE6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CF Industries position performs unexpectedly, 22966RAE6 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 22966RAE6 will offset losses from the drop in 22966RAE6's long position.| CF Industries vs. Nutrien | CF Industries vs. Intrepid Potash | CF Industries vs. Corteva | CF Industries vs. ICL Israel Chemicals |
| 22966RAE6 vs. Graham Holdings Co | 22966RAE6 vs. CDW Corp | 22966RAE6 vs. Elite Education Group | 22966RAE6 vs. New Oriental Education |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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