Correlation Between Deutsche Bank and El Puerto
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By analyzing existing cross correlation between Deutsche Bank Aktiengesellschaft and El Puerto de, you can compare the effects of market volatilities on Deutsche Bank and El Puerto 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 Deutsche Bank with a short position of El Puerto. Check out your portfolio center. Please also check ongoing floating volatility patterns of Deutsche Bank and El Puerto.
Diversification Opportunities for Deutsche Bank and El Puerto
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Deutsche and LIVEPOLC-1 is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Bank Aktiengesellscha and El Puerto de in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on El Puerto de and Deutsche Bank 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 Deutsche Bank Aktiengesellschaft are associated (or correlated) with El Puerto. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of El Puerto de has no effect on the direction of Deutsche Bank i.e., Deutsche Bank and El Puerto go up and down completely randomly.
Pair Corralation between Deutsche Bank and El Puerto
Assuming the 90 days trading horizon Deutsche Bank Aktiengesellschaft is expected to generate 1.09 times more return on investment than El Puerto. However, Deutsche Bank is 1.09 times more volatile than El Puerto de. It trades about 0.2 of its potential returns per unit of risk. El Puerto de is currently generating about -0.06 per unit of risk. If you would invest 31,557 in Deutsche Bank Aktiengesellschaft on November 2, 2024 and sell it today you would earn a total of 10,383 from holding Deutsche Bank Aktiengesellschaft or generate 32.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.03% |
| Values | Daily Returns |
Deutsche Bank Aktiengesellscha vs. El Puerto de
Performance |
| Timeline |
| Deutsche Bank Aktien |
| El Puerto de |
Deutsche Bank and El Puerto Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Deutsche Bank and El Puerto
The main advantage of trading using opposite Deutsche Bank and El Puerto positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Deutsche Bank position performs unexpectedly, El Puerto 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 El Puerto will offset losses from the drop in El Puerto's long position.| Deutsche Bank vs. Genworth Financial | Deutsche Bank vs. First Republic Bank | Deutsche Bank vs. United States Steel | Deutsche Bank vs. Grupo Sports World |
| El Puerto vs. The Home Depot | El Puerto vs. KB Home | El Puerto vs. United Airlines Holdings | El Puerto vs. FibraHotel |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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