Correlation Between Dupont De and LOWES
Specify exactly 2 symbols:
By analyzing existing cross correlation between Dupont De Nemours and LOWES INC 31, you can compare the effects of market volatilities on Dupont De and LOWES 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 LOWES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and LOWES.
Diversification Opportunities for Dupont De and LOWES
Good diversification
The 3 months correlation between Dupont and LOWES is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and LOWES INC 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOWES INC 31 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 LOWES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOWES INC 31 has no effect on the direction of Dupont De i.e., Dupont De and LOWES go up and down completely randomly.
Pair Corralation between Dupont De and LOWES
Allowing for the 90-day total investment horizon Dupont De Nemours is expected to under-perform the LOWES. In addition to that, Dupont De is 1.08 times more volatile than LOWES INC 31. It trades about -0.06 of its total potential returns per unit of risk. LOWES INC 31 is currently generating about 0.11 per unit of volatility. If you would invest 9,591 in LOWES INC 31 on September 12, 2024 and sell it today you would earn a total of 190.00 from holding LOWES INC 31 or generate 1.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Dupont De Nemours vs. LOWES INC 31
Performance |
| Timeline |
| Dupont De Nemours |
| LOWES INC 31 |
Dupont De and LOWES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and LOWES
The main advantage of trading using opposite Dupont De and LOWES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, LOWES 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 LOWES will offset losses from the drop in LOWES's long position.| Dupont De vs. Griffon | Dupont De vs. Merck Company | Dupont De vs. Brinker International | Dupont De vs. Alcoa Corp |
| LOWES vs. AEP TEX INC | LOWES vs. US BANK NATIONAL | LOWES vs. Applied Blockchain | LOWES vs. BigBearai 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |