Correlation Between Ceragon Networks and WHITE
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By analyzing existing cross correlation between Ceragon Networks and WHITE CAP BUYER, you can compare the effects of market volatilities on Ceragon Networks and WHITE 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 Ceragon Networks with a short position of WHITE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ceragon Networks and WHITE.
Diversification Opportunities for Ceragon Networks and WHITE
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Ceragon and WHITE is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Ceragon Networks and WHITE CAP BUYER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WHITE CAP BUYER and Ceragon Networks 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 Ceragon Networks are associated (or correlated) with WHITE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WHITE CAP BUYER has no effect on the direction of Ceragon Networks i.e., Ceragon Networks and WHITE go up and down completely randomly.
Pair Corralation between Ceragon Networks and WHITE
Given the investment horizon of 90 days Ceragon Networks is expected to generate 17.21 times more return on investment than WHITE. However, Ceragon Networks is 17.21 times more volatile than WHITE CAP BUYER. It trades about 0.47 of its potential returns per unit of risk. WHITE CAP BUYER is currently generating about 0.15 per unit of risk. If you would invest 242.00 in Ceragon Networks on September 4, 2024 and sell it today you would earn a total of 174.00 from holding Ceragon Networks or generate 71.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Ceragon Networks vs. WHITE CAP BUYER
Performance |
| Timeline |
| Ceragon Networks |
| WHITE CAP BUYER |
Ceragon Networks and WHITE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ceragon Networks and WHITE
The main advantage of trading using opposite Ceragon Networks and WHITE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ceragon Networks position performs unexpectedly, WHITE 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 WHITE will offset losses from the drop in WHITE's long position.| Ceragon Networks vs. Cambium Networks Corp | Ceragon Networks vs. KVH Industries | Ceragon Networks vs. Knowles Cor | Ceragon Networks vs. AudioCodes |
| WHITE vs. Axalta Coating Systems | WHITE vs. Mativ Holdings | WHITE vs. Sonida Senior Living | WHITE vs. Cardinal Health |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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