Correlation Between ConnectOne Bancorp and 25160PAE7
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By analyzing existing cross correlation between ConnectOne Bancorp and DEUTSCHE BK AG, you can compare the effects of market volatilities on ConnectOne Bancorp and 25160PAE7 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 ConnectOne Bancorp with a short position of 25160PAE7. Check out your portfolio center. Please also check ongoing floating volatility patterns of ConnectOne Bancorp and 25160PAE7.
Diversification Opportunities for ConnectOne Bancorp and 25160PAE7
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ConnectOne and 25160PAE7 is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding ConnectOne Bancorp and DEUTSCHE BK AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DEUTSCHE BK AG and ConnectOne Bancorp 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 ConnectOne Bancorp are associated (or correlated) with 25160PAE7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DEUTSCHE BK AG has no effect on the direction of ConnectOne Bancorp i.e., ConnectOne Bancorp and 25160PAE7 go up and down completely randomly.
Pair Corralation between ConnectOne Bancorp and 25160PAE7
Assuming the 90 days horizon ConnectOne Bancorp is expected to generate 1.7 times more return on investment than 25160PAE7. However, ConnectOne Bancorp is 1.7 times more volatile than DEUTSCHE BK AG. It trades about 0.08 of its potential returns per unit of risk. DEUTSCHE BK AG is currently generating about -0.6 per unit of risk. If you would invest 2,221 in ConnectOne Bancorp on October 15, 2024 and sell it today you would earn a total of 29.00 from holding ConnectOne Bancorp or generate 1.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 50.0% |
| Values | Daily Returns |
ConnectOne Bancorp vs. DEUTSCHE BK AG
Performance |
| Timeline |
| ConnectOne Bancorp |
| DEUTSCHE BK AG |
ConnectOne Bancorp and 25160PAE7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ConnectOne Bancorp and 25160PAE7
The main advantage of trading using opposite ConnectOne Bancorp and 25160PAE7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ConnectOne Bancorp position performs unexpectedly, 25160PAE7 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 25160PAE7 will offset losses from the drop in 25160PAE7's long position.| ConnectOne Bancorp vs. Dime Community Bancshares | ConnectOne Bancorp vs. Washington Federal | ConnectOne Bancorp vs. CNB Financial | ConnectOne Bancorp vs. First Guaranty Bancshares |
| 25160PAE7 vs. Virtus Investment Partners, | 25160PAE7 vs. Old Republic International | 25160PAE7 vs. Compass Diversified Holdings | 25160PAE7 vs. AG Mortgage Investment |
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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