Correlation Between Dine Brands and 86787GAJ1
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By analyzing existing cross correlation between Dine Brands Global and SUNTRUST BK ATLANTA, you can compare the effects of market volatilities on Dine Brands and 86787GAJ1 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 Dine Brands with a short position of 86787GAJ1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dine Brands and 86787GAJ1.
Diversification Opportunities for Dine Brands and 86787GAJ1
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dine and 86787GAJ1 is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Dine Brands Global and SUNTRUST BK ATLANTA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUNTRUST BK ATLANTA and Dine Brands 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 Dine Brands Global are associated (or correlated) with 86787GAJ1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUNTRUST BK ATLANTA has no effect on the direction of Dine Brands i.e., Dine Brands and 86787GAJ1 go up and down completely randomly.
Pair Corralation between Dine Brands and 86787GAJ1
Considering the 90-day investment horizon Dine Brands Global is expected to under-perform the 86787GAJ1. In addition to that, Dine Brands is 4.64 times more volatile than SUNTRUST BK ATLANTA. It trades about -0.04 of its total potential returns per unit of risk. SUNTRUST BK ATLANTA is currently generating about -0.17 per unit of volatility. If you would invest 9,751 in SUNTRUST BK ATLANTA on September 12, 2024 and sell it today you would lose (190.00) from holding SUNTRUST BK ATLANTA or give up 1.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 86.36% |
| Values | Daily Returns |
Dine Brands Global vs. SUNTRUST BK ATLANTA
Performance |
| Timeline |
| Dine Brands Global |
| SUNTRUST BK ATLANTA |
Dine Brands and 86787GAJ1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dine Brands and 86787GAJ1
The main advantage of trading using opposite Dine Brands and 86787GAJ1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dine Brands position performs unexpectedly, 86787GAJ1 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 86787GAJ1 will offset losses from the drop in 86787GAJ1's long position.| Dine Brands vs. Noble Romans | Dine Brands vs. Good Times Restaurants | Dine Brands vs. Flanigans Enterprises | Dine Brands vs. FAT Brands |
| 86787GAJ1 vs. Ryman Hospitality Properties | 86787GAJ1 vs. Glacier Bancorp | 86787GAJ1 vs. Dine Brands Global | 86787GAJ1 vs. Western Union Co |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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