Correlation Between Dow Jones and GBLATL
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By analyzing existing cross correlation between Dow Jones Industrial and GBLATL 3125 15 JUN 31, you can compare the effects of market volatilities on Dow Jones and GBLATL 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 Dow Jones with a short position of GBLATL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dow Jones and GBLATL.
Diversification Opportunities for Dow Jones and GBLATL
Good diversification
The 3 months correlation between Dow and GBLATL is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Dow Jones Industrial and GBLATL 3125 15 JUN 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GBLATL 3125 15 and Dow Jones 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 Dow Jones Industrial are associated (or correlated) with GBLATL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GBLATL 3125 15 has no effect on the direction of Dow Jones i.e., Dow Jones and GBLATL go up and down completely randomly.
Pair Corralation between Dow Jones and GBLATL
Assuming the 90 days trading horizon Dow Jones Industrial is expected to generate 0.71 times more return on investment than GBLATL. However, Dow Jones Industrial is 1.41 times less risky than GBLATL. It trades about 0.08 of its potential returns per unit of risk. GBLATL 3125 15 JUN 31 is currently generating about 0.0 per unit of risk. If you would invest 3,424,593 in Dow Jones Industrial on November 2, 2024 and sell it today you would earn a total of 1,063,620 from holding Dow Jones Industrial or generate 31.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 66.67% |
| Values | Daily Returns |
Dow Jones Industrial vs. GBLATL 3125 15 JUN 31
Performance |
| Timeline |
Dow Jones and GBLATL Volatility Contrast
Predicted Return Density |
| Returns |
Dow Jones Industrial
Pair trading matchups for Dow Jones
GBLATL 3125 15 JUN 31
Pair trading matchups for GBLATL
Pair Trading with Dow Jones and GBLATL
The main advantage of trading using opposite Dow Jones and GBLATL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dow Jones position performs unexpectedly, GBLATL 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 GBLATL will offset losses from the drop in GBLATL's long position.| Dow Jones vs. Cincinnati Financial | Dow Jones vs. Kellanova | Dow Jones vs. Acme United | Dow Jones vs. Procter Gamble |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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