Correlation Between Dupont De and FNB ETN
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By analyzing existing cross correlation between Dupont De Nemours and FNB ETN on, you can compare the effects of market volatilities on Dupont De and FNB ETN 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 FNB ETN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and FNB ETN.
Diversification Opportunities for Dupont De and FNB ETN
Modest diversification
The 3 months correlation between Dupont and FNB is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and FNB ETN on in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FNB ETN on 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 FNB ETN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FNB ETN on has no effect on the direction of Dupont De i.e., Dupont De and FNB ETN go up and down completely randomly.
Pair Corralation between Dupont De and FNB ETN
Allowing for the 90-day total investment horizon Dupont De is expected to generate 2.92 times less return on investment than FNB ETN. In addition to that, Dupont De is 2.24 times more volatile than FNB ETN on. It trades about 0.06 of its total potential returns per unit of risk. FNB ETN on is currently generating about 0.39 per unit of volatility. If you would invest 186,600 in FNB ETN on on September 2, 2024 and sell it today you would earn a total of 11,200 from holding FNB ETN on or generate 6.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dupont De Nemours vs. FNB ETN on
Performance |
| Timeline |
| Dupont De Nemours |
| FNB ETN on |
Dupont De and FNB ETN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and FNB ETN
The main advantage of trading using opposite Dupont De and FNB ETN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, FNB ETN 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 FNB ETN will offset losses from the drop in FNB ETN's long position.| Dupont De vs. Eastman Chemical | Dupont De vs. Olin Corporation | Dupont De vs. Cabot | Dupont De vs. Kronos Worldwide |
| FNB ETN vs. Europa Metals | FNB ETN vs. JSE Limited | FNB ETN vs. British American Tobacco | FNB ETN vs. Kap Industrial Holdings |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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