Correlation Between Dupont De and SUZANO
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By analyzing existing cross correlation between Dupont De Nemours and SUZANO 575 14 JUL 26, you can compare the effects of market volatilities on Dupont De and SUZANO 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 SUZANO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and SUZANO.
Diversification Opportunities for Dupont De and SUZANO
Good diversification
The 3 months correlation between Dupont and SUZANO is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and SUZANO 575 14 JUL 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUZANO 575 14 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 SUZANO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUZANO 575 14 has no effect on the direction of Dupont De i.e., Dupont De and SUZANO go up and down completely randomly.
Pair Corralation between Dupont De and SUZANO
Allowing for the 90-day total investment horizon Dupont De Nemours is expected to generate 2.68 times more return on investment than SUZANO. However, Dupont De is 2.68 times more volatile than SUZANO 575 14 JUL 26. It trades about 0.03 of its potential returns per unit of risk. SUZANO 575 14 JUL 26 is currently generating about -0.36 per unit of risk. If you would invest 8,212 in Dupont De Nemours on September 2, 2024 and sell it today you would earn a total of 147.00 from holding Dupont De Nemours or generate 1.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 14.06% |
| Values | Daily Returns |
Dupont De Nemours vs. SUZANO 575 14 JUL 26
Performance |
| Timeline |
| Dupont De Nemours |
| SUZANO 575 14 |
Dupont De and SUZANO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and SUZANO
The main advantage of trading using opposite Dupont De and SUZANO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, SUZANO 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 SUZANO will offset losses from the drop in SUZANO's long position.| Dupont De vs. Eastman Chemical | Dupont De vs. Olin Corporation | Dupont De vs. Cabot | Dupont De vs. Kronos Worldwide |
| SUZANO vs. American Airlines Group | SUZANO vs. NI Holdings | SUZANO vs. JetBlue Airways Corp | SUZANO vs. Aspen Insurance 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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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