Correlation Between Elfun Trusts and COOPERATIEVE
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By analyzing existing cross correlation between Elfun Trusts Elfun and COOPERATIEVE CENTRALE RAIFFEISEN, you can compare the effects of market volatilities on Elfun Trusts and COOPERATIEVE 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 Elfun Trusts with a short position of COOPERATIEVE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Elfun Trusts and COOPERATIEVE.
Diversification Opportunities for Elfun Trusts and COOPERATIEVE
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Elfun and COOPERATIEVE is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Trusts Elfun and COOPERATIEVE CENTRALE RAIFFEIS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COOPERATIEVE CENTRALE and Elfun Trusts 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 Elfun Trusts Elfun are associated (or correlated) with COOPERATIEVE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COOPERATIEVE CENTRALE has no effect on the direction of Elfun Trusts i.e., Elfun Trusts and COOPERATIEVE go up and down completely randomly.
Pair Corralation between Elfun Trusts and COOPERATIEVE
Assuming the 90 days horizon Elfun Trusts is expected to generate 46.98 times less return on investment than COOPERATIEVE. But when comparing it to its historical volatility, Elfun Trusts Elfun is 88.97 times less risky than COOPERATIEVE. It trades about 0.13 of its potential returns per unit of risk. COOPERATIEVE CENTRALE RAIFFEISEN is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 9,716 in COOPERATIEVE CENTRALE RAIFFEISEN on September 14, 2024 and sell it today you would earn a total of 89.00 from holding COOPERATIEVE CENTRALE RAIFFEISEN or generate 0.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 65.38% |
| Values | Daily Returns |
Elfun Trusts Elfun vs. COOPERATIEVE CENTRALE RAIFFEIS
Performance |
| Timeline |
| Elfun Trusts Elfun |
| COOPERATIEVE CENTRALE |
Elfun Trusts and COOPERATIEVE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Elfun Trusts and COOPERATIEVE
The main advantage of trading using opposite Elfun Trusts and COOPERATIEVE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Elfun Trusts position performs unexpectedly, COOPERATIEVE 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 COOPERATIEVE will offset losses from the drop in COOPERATIEVE's long position.| Elfun Trusts vs. Fpa Queens Road | Elfun Trusts vs. Valic Company I | Elfun Trusts vs. Royce Opportunity Fund | Elfun Trusts vs. Vanguard Small Cap Value |
| COOPERATIEVE vs. Diamond Estates Wines | COOPERATIEVE vs. Empresa Distribuidora y | COOPERATIEVE vs. Celsius Holdings | COOPERATIEVE vs. Vodka Brands Corp |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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