Correlation Between Dupont De and SIMON
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By analyzing existing cross correlation between Dupont De Nemours and SIMON PROPERTY GROUP, you can compare the effects of market volatilities on Dupont De and SIMON 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 SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dupont De and SIMON.
Diversification Opportunities for Dupont De and SIMON
Average diversification
The 3 months correlation between Dupont and SIMON is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Dupont De Nemours and SIMON PROPERTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PROPERTY GROUP 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 SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PROPERTY GROUP has no effect on the direction of Dupont De i.e., Dupont De and SIMON go up and down completely randomly.
Pair Corralation between Dupont De and SIMON
Allowing for the 90-day total investment horizon Dupont De Nemours is expected to generate 1.54 times more return on investment than SIMON. However, Dupont De is 1.54 times more volatile than SIMON PROPERTY GROUP. It trades about -0.06 of its potential returns per unit of risk. SIMON PROPERTY GROUP is currently generating about -0.22 per unit of risk. If you would invest 8,711 in Dupont De Nemours on August 25, 2024 and sell it today you would lose (379.00) from holding Dupont De Nemours or give up 4.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.56% |
| Values | Daily Returns |
Dupont De Nemours vs. SIMON PROPERTY GROUP
Performance |
| Timeline |
| Dupont De Nemours |
| SIMON PROPERTY GROUP |
Dupont De and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dupont De and SIMON
The main advantage of trading using opposite Dupont De and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dupont De position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.| Dupont De vs. Olin Corporation | Dupont De vs. Cabot | Dupont De vs. Kronos Worldwide | Dupont De vs. LyondellBasell Industries NV |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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