Correlation Between Crowdstrike Holdings and 26442UAG9
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By analyzing existing cross correlation between Crowdstrike Holdings and DUKE ENERGY PROGRESS, you can compare the effects of market volatilities on Crowdstrike Holdings and 26442UAG9 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 Crowdstrike Holdings with a short position of 26442UAG9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Crowdstrike Holdings and 26442UAG9.
Diversification Opportunities for Crowdstrike Holdings and 26442UAG9
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Crowdstrike and 26442UAG9 is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Crowdstrike Holdings and DUKE ENERGY PROGRESS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DUKE ENERGY PROGRESS and Crowdstrike Holdings 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 Crowdstrike Holdings are associated (or correlated) with 26442UAG9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DUKE ENERGY PROGRESS has no effect on the direction of Crowdstrike Holdings i.e., Crowdstrike Holdings and 26442UAG9 go up and down completely randomly.
Pair Corralation between Crowdstrike Holdings and 26442UAG9
Given the investment horizon of 90 days Crowdstrike Holdings is expected to generate 6.01 times more return on investment than 26442UAG9. However, Crowdstrike Holdings is 6.01 times more volatile than DUKE ENERGY PROGRESS. It trades about 0.29 of its potential returns per unit of risk. DUKE ENERGY PROGRESS is currently generating about -0.18 per unit of risk. If you would invest 28,047 in Crowdstrike Holdings on August 30, 2024 and sell it today you would earn a total of 8,383 from holding Crowdstrike Holdings or generate 29.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 93.02% |
| Values | Daily Returns |
Crowdstrike Holdings vs. DUKE ENERGY PROGRESS
Performance |
| Timeline |
| Crowdstrike Holdings |
| DUKE ENERGY PROGRESS |
Crowdstrike Holdings and 26442UAG9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Crowdstrike Holdings and 26442UAG9
The main advantage of trading using opposite Crowdstrike Holdings and 26442UAG9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Crowdstrike Holdings position performs unexpectedly, 26442UAG9 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 26442UAG9 will offset losses from the drop in 26442UAG9's long position.| Crowdstrike Holdings vs. Adobe Systems Incorporated | Crowdstrike Holdings vs. Palantir Technologies Class | Crowdstrike Holdings vs. Zscaler | Crowdstrike Holdings vs. Okta Inc |
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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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