Correlation Between Dupont De and Franklin Floating
Specify exactly 2 symbols:
By analyzing existing cross correlation between Dupont De Nemours and Franklin Floating Rate, you can compare the effects of market volatilities on Dupont De and Franklin Floating 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 Franklin Floating. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and Franklin Floating.
Diversification Opportunities for Dupont De and Franklin Floating
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Dupont and Franklin is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and Franklin Floating Rate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Franklin Floating Rate 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 Franklin Floating. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Franklin Floating Rate has no effect on the direction of Dupont De i.e., Dupont De and Franklin Floating go up and down completely randomly.
Pair Corralation between Dupont De and Franklin Floating
Allowing for the 90-day total investment horizon Dupont De Nemours is expected to generate 11.94 times more return on investment than Franklin Floating. However, Dupont De is 11.94 times more volatile than Franklin Floating Rate. It trades about 0.04 of its potential returns per unit of risk. Franklin Floating Rate is currently generating about 0.27 per unit of risk. If you would invest 6,804 in Dupont De Nemours on September 2, 2024 and sell it today you would earn a total of 1,555 from holding Dupont De Nemours or generate 22.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.67% |
| Values | Daily Returns |
Dupont De Nemours vs. Franklin Floating Rate
Performance |
| Timeline |
| Dupont De Nemours |
| Franklin Floating Rate |
Dupont De and Franklin Floating Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and Franklin Floating
The main advantage of trading using opposite Dupont De and Franklin Floating positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, Franklin Floating 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 Franklin Floating will offset losses from the drop in Franklin Floating's long position.| Dupont De vs. Eastman Chemical | Dupont De vs. Olin Corporation | Dupont De vs. Cabot | Dupont De vs. Kronos Worldwide |
| Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. KLP AksjeNorge Indeks | Franklin Floating vs. Storebrand Global Solutions |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |