Correlation Between Dalata Hotel and Franklin Floating
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By analyzing existing cross correlation between Dalata Hotel Group and Franklin Floating Rate, you can compare the effects of market volatilities on Dalata Hotel 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 Dalata Hotel with a short position of Franklin Floating. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dalata Hotel and Franklin Floating.
Diversification Opportunities for Dalata Hotel and Franklin Floating
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Dalata and Franklin is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Dalata Hotel Group 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 Dalata Hotel 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 Dalata Hotel Group 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 Dalata Hotel i.e., Dalata Hotel and Franklin Floating go up and down completely randomly.
Pair Corralation between Dalata Hotel and Franklin Floating
Assuming the 90 days trading horizon Dalata Hotel Group is expected to generate 15.37 times more return on investment than Franklin Floating. However, Dalata Hotel is 15.37 times more volatile than Franklin Floating Rate. It trades about 0.12 of its potential returns per unit of risk. Franklin Floating Rate is currently generating about 0.29 per unit of risk. If you would invest 422.00 in Dalata Hotel Group on August 26, 2024 and sell it today you would earn a total of 14.00 from holding Dalata Hotel Group or generate 3.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Dalata Hotel Group vs. Franklin Floating Rate
Performance |
| Timeline |
| Dalata Hotel Group |
| Franklin Floating Rate |
Dalata Hotel and Franklin Floating Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dalata Hotel and Franklin Floating
The main advantage of trading using opposite Dalata Hotel and Franklin Floating positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dalata Hotel 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.| Dalata Hotel vs. AIB Group PLC | Dalata Hotel vs. Bank of Ireland | Dalata Hotel vs. Kingspan Group plc | Dalata Hotel vs. Irish Residential Properties |
| Franklin Floating vs. Dalata Hotel Group | Franklin Floating vs. Uniphar Group PLC | Franklin Floating vs. KLP Aksje Fremvoksende | Franklin Floating vs. Origin Enterprises Plc |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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