Correlation Between Crescent Energy and ENTERGY
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By analyzing existing cross correlation between Crescent Energy Co and ENTERGY LA LLC, you can compare the effects of market volatilities on Crescent Energy and ENTERGY 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 Crescent Energy with a short position of ENTERGY. Check out your portfolio center. Please also check ongoing floating volatility patterns of Crescent Energy and ENTERGY.
Diversification Opportunities for Crescent Energy and ENTERGY
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Crescent and ENTERGY is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Crescent Energy Co and ENTERGY LA LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ENTERGY LA LLC and Crescent 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 Crescent Energy Co are associated (or correlated) with ENTERGY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ENTERGY LA LLC has no effect on the direction of Crescent Energy i.e., Crescent Energy and ENTERGY go up and down completely randomly.
Pair Corralation between Crescent Energy and ENTERGY
Given the investment horizon of 90 days Crescent Energy Co is expected to generate 2.58 times more return on investment than ENTERGY. However, Crescent Energy is 2.58 times more volatile than ENTERGY LA LLC. It trades about 0.72 of its potential returns per unit of risk. ENTERGY LA LLC is currently generating about -0.15 per unit of risk. If you would invest 1,313 in Crescent Energy Co on October 20, 2024 and sell it today you would earn a total of 349.00 from holding Crescent Energy Co or generate 26.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 85.0% |
| Values | Daily Returns |
Crescent Energy Co vs. ENTERGY LA LLC
Performance |
| Timeline |
| Crescent Energy |
| ENTERGY LA LLC |
Crescent Energy and ENTERGY Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Crescent Energy and ENTERGY
The main advantage of trading using opposite Crescent Energy and ENTERGY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Crescent Energy position performs unexpectedly, ENTERGY 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 ENTERGY will offset losses from the drop in ENTERGY's long position.| Crescent Energy vs. Vital Energy | Crescent Energy vs. Permian Resources | Crescent Energy vs. Magnolia Oil Gas | Crescent Energy vs. Ring Energy |
| ENTERGY vs. AEP TEX INC | ENTERGY vs. US BANK NATIONAL | ENTERGY vs. iHeartCommunications 8375 percent | ENTERGY vs. SEALSQ 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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