Correlation Between Cullen International and Cullen High
Can any of the company-specific risk be diversified away by investing in both Cullen International and Cullen High 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 Cullen International and Cullen High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cullen International High and Cullen High Dividend, you can compare the effects of market volatilities on Cullen International and Cullen High 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 Cullen International with a short position of Cullen High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cullen International and Cullen High.
Diversification Opportunities for Cullen International and Cullen High
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cullen and Cullen is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Cullen International High and Cullen High Dividend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cullen High Dividend and Cullen International 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 Cullen International High are associated (or correlated) with Cullen High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cullen High Dividend has no effect on the direction of Cullen International i.e., Cullen International and Cullen High go up and down completely randomly.
Pair Corralation between Cullen International and Cullen High
If you would invest 1,509 in Cullen High Dividend on August 30, 2024 and sell it today you would earn a total of 13.00 from holding Cullen High Dividend or generate 0.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Cullen International High vs. Cullen High Dividend
Performance |
| Timeline |
| Cullen International High |
| Cullen High Dividend |
Cullen International and Cullen High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cullen International and Cullen High
The main advantage of trading using opposite Cullen International and Cullen High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cullen International position performs unexpectedly, Cullen High 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 Cullen High will offset losses from the drop in Cullen High's long position.| Cullen International vs. Versatile Bond Portfolio | Cullen International vs. T Rowe Price | Cullen International vs. Nuveen Massachusetts Municipal | Cullen International vs. Barings Active Short |
| Cullen High vs. The Value Fund | Cullen High vs. Lazard Global Listed | Cullen High vs. Lazard International Strategic | Cullen High vs. Tcw Relative Value |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Other Complementary Tools
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |