Correlation Between Dupont De and EXELON
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By analyzing existing cross correlation between Dupont De Nemours and EXELON GENERATION LLC, you can compare the effects of market volatilities on Dupont De and EXELON 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 EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and EXELON.
Diversification Opportunities for Dupont De and EXELON
Modest diversification
The 3 months correlation between Dupont and EXELON is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and EXELON GENERATION LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON GENERATION LLC 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 EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON GENERATION LLC has no effect on the direction of Dupont De i.e., Dupont De and EXELON go up and down completely randomly.
Pair Corralation between Dupont De and EXELON
Allowing for the 90-day total investment horizon Dupont De Nemours is expected to generate 1.27 times more return on investment than EXELON. However, Dupont De is 1.27 times more volatile than EXELON GENERATION LLC. It trades about 0.03 of its potential returns per unit of risk. EXELON GENERATION LLC is currently generating about -0.07 per unit of risk. If you would invest 8,327 in Dupont De Nemours on August 31, 2024 and sell it today you would earn a total of 63.00 from holding Dupont De Nemours or generate 0.76% 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. EXELON GENERATION LLC
Performance |
| Timeline |
| Dupont De Nemours |
| EXELON GENERATION LLC |
Dupont De and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and EXELON
The main advantage of trading using opposite Dupont De and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Dupont De vs. Eastman Chemical | Dupont De vs. Linde plc Ordinary | Dupont De vs. Ecolab Inc | Dupont De vs. Sherwin Williams Co |
| EXELON vs. AEP TEX INC | EXELON vs. US BANK NATIONAL | EXELON vs. International Business Machines | EXELON vs. Intel |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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