Correlation Between Delek Logistics and SOCGEN

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Delek Logistics and SOCGEN at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Delek Logistics and SOCGEN into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Delek Logistics Partners and SOCGEN 425 14 APR 25, you can compare the effects of market volatilities on Delek Logistics and SOCGEN 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 Delek Logistics with a short position of SOCGEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delek Logistics and SOCGEN.

Diversification Opportunities for Delek Logistics and SOCGEN

-0.19
  Correlation Coefficient

Good diversification

The 3 months correlation between Delek and SOCGEN is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Delek Logistics Partners and SOCGEN 425 14 APR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOCGEN 425 14 and Delek Logistics 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 Delek Logistics Partners are associated (or correlated) with SOCGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOCGEN 425 14 has no effect on the direction of Delek Logistics i.e., Delek Logistics and SOCGEN go up and down completely randomly.

Pair Corralation between Delek Logistics and SOCGEN

Considering the 90-day investment horizon Delek Logistics Partners is expected to generate 4.86 times more return on investment than SOCGEN. However, Delek Logistics is 4.86 times more volatile than SOCGEN 425 14 APR 25. It trades about 0.01 of its potential returns per unit of risk. SOCGEN 425 14 APR 25 is currently generating about -0.01 per unit of risk. If you would invest  3,724  in Delek Logistics Partners on September 12, 2024 and sell it today you would earn a total of  157.00  from holding Delek Logistics Partners or generate 4.22% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy37.37%
ValuesDaily Returns

Delek Logistics Partners  vs.  SOCGEN 425 14 APR 25

 Performance 
       Timeline  
Delek Logistics Partners 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Delek Logistics Partners has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent forward-looking signals, Delek Logistics is not utilizing all of its potentials. The recent stock price mess, may contribute to short-term losses for the institutional investors.
SOCGEN 425 14 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days SOCGEN 425 14 APR 25 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite inconsistent performance in the last few months, the Bond's basic indicators remain somewhat strong which may send shares a bit higher in January 2025. The current disturbance may also be a sign of long term up-swing for SOCGEN 425 14 APR 25 investors.

Delek Logistics and SOCGEN Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Delek Logistics and SOCGEN

The main advantage of trading using opposite Delek Logistics and SOCGEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delek Logistics position performs unexpectedly, SOCGEN 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 SOCGEN will offset losses from the drop in SOCGEN's long position.
Delek Logistics vs. CVR Energy
Delek Logistics vs. PBF Energy
Delek Logistics vs. HF Sinclair Corp
Delek Logistics vs. Par Pacific Holdings
The idea behind Delek Logistics Partners and SOCGEN 425 14 APR 25 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
SOCGEN vs. Ihuman Inc
SOCGEN vs. Acco Brands
SOCGEN vs. Delek Logistics Partners
SOCGEN vs. Universal Technical Institute
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.

Other Complementary Tools

FinTech Suite
Use AI to screen and filter profitable investment opportunities
Commodity Channel
Use Commodity Channel Index to analyze current equity momentum
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital


 
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY