Correlation Between Dupont De and Flat Glass
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By analyzing existing cross correlation between Dupont De Nemours and Flat Glass Group, you can compare the effects of market volatilities on Dupont De and Flat Glass 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 Dupont De with a short position of Flat Glass. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and Flat Glass.
Diversification Opportunities for Dupont De and Flat Glass
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dupont and Flat is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and Flat Glass Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flat Glass Group and Dupont De 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 Dupont De Nemours are associated (or correlated) with Flat Glass. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flat Glass Group has no effect on the direction of Dupont De i.e., Dupont De and Flat Glass go up and down completely randomly.
Pair Corralation between Dupont De and Flat Glass
Allowing for the 90-day total investment horizon Dupont De is expected to generate 3.81 times less return on investment than Flat Glass. But when comparing it to its historical volatility, Dupont De Nemours is 2.91 times less risky than Flat Glass. It trades about 0.02 of its potential returns per unit of risk. Flat Glass Group is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 2,416 in Flat Glass Group on August 26, 2024 and sell it today you would earn a total of 104.00 from holding Flat Glass Group or generate 4.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.06% |
| Values | Daily Returns |
Dupont De Nemours vs. Flat Glass Group
Performance |
| Timeline |
| Dupont De Nemours |
| Flat Glass Group |
Dupont De and Flat Glass Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and Flat Glass
The main advantage of trading using opposite Dupont De and Flat Glass positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, Flat Glass 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 Flat Glass will offset losses from the drop in Flat Glass' long position.| Dupont De vs. Olin Corporation | Dupont De vs. Cabot | Dupont De vs. Kronos Worldwide | Dupont De vs. LyondellBasell Industries NV |
| Flat Glass vs. Suzhou Weizhixiang Food | Flat Glass vs. Harvest Fund Management | Flat Glass vs. Panda Dairy Corp | Flat Glass vs. HaiXin Foods Co |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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