Correlation Between Cheniere Energy and GLENLN
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By analyzing existing cross correlation between Cheniere Energy Partners and GLENLN 1625 27 APR 26, you can compare the effects of market volatilities on Cheniere Energy and GLENLN 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 Cheniere Energy with a short position of GLENLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cheniere Energy and GLENLN.
Diversification Opportunities for Cheniere Energy and GLENLN
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cheniere and GLENLN is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Cheniere Energy Partners and GLENLN 1625 27 APR 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLENLN 1625 27 and Cheniere Energy 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 Cheniere Energy Partners are associated (or correlated) with GLENLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLENLN 1625 27 has no effect on the direction of Cheniere Energy i.e., Cheniere Energy and GLENLN go up and down completely randomly.
Pair Corralation between Cheniere Energy and GLENLN
Considering the 90-day investment horizon Cheniere Energy Partners is expected to generate 1.67 times more return on investment than GLENLN. However, Cheniere Energy is 1.67 times more volatile than GLENLN 1625 27 APR 26. It trades about 0.58 of its potential returns per unit of risk. GLENLN 1625 27 APR 26 is currently generating about -0.26 per unit of risk. If you would invest 4,818 in Cheniere Energy Partners on September 4, 2024 and sell it today you would earn a total of 895.00 from holding Cheniere Energy Partners or generate 18.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 61.9% |
| Values | Daily Returns |
Cheniere Energy Partners vs. GLENLN 1625 27 APR 26
Performance |
| Timeline |
| Cheniere Energy Partners |
| GLENLN 1625 27 |
Cheniere Energy and GLENLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cheniere Energy and GLENLN
The main advantage of trading using opposite Cheniere Energy and GLENLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cheniere Energy position performs unexpectedly, GLENLN 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 GLENLN will offset losses from the drop in GLENLN's long position.| Cheniere Energy vs. EnLink Midstream LLC | Cheniere Energy vs. Western Midstream Partners | Cheniere Energy vs. Plains GP Holdings | Cheniere Energy vs. Hess Midstream Partners |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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