Correlation Between Elfun Trusts and STANLN
Specify exactly 2 symbols:
By analyzing existing cross correlation between Elfun Trusts Elfun and STANLN 32 17 APR 25, you can compare the effects of market volatilities on Elfun Trusts and STANLN 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 STANLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Elfun Trusts and STANLN.
Diversification Opportunities for Elfun Trusts and STANLN
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Elfun and STANLN is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Trusts Elfun and STANLN 32 17 APR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANLN 32 17 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 STANLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANLN 32 17 has no effect on the direction of Elfun Trusts i.e., Elfun Trusts and STANLN go up and down completely randomly.
Pair Corralation between Elfun Trusts and STANLN
Assuming the 90 days horizon Elfun Trusts Elfun is expected to generate 2.9 times more return on investment than STANLN. However, Elfun Trusts is 2.9 times more volatile than STANLN 32 17 APR 25. It trades about 0.13 of its potential returns per unit of risk. STANLN 32 17 APR 25 is currently generating about 0.08 per unit of risk. If you would invest 5,696 in Elfun Trusts Elfun on September 13, 2024 and sell it today you would earn a total of 4,363 from holding Elfun Trusts Elfun or generate 76.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 16.8% |
| Values | Daily Returns |
Elfun Trusts Elfun vs. STANLN 32 17 APR 25
Performance |
| Timeline |
| Elfun Trusts Elfun |
| STANLN 32 17 |
Elfun Trusts and STANLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Elfun Trusts and STANLN
The main advantage of trading using opposite Elfun Trusts and STANLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Elfun Trusts position performs unexpectedly, STANLN 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 STANLN will offset losses from the drop in STANLN's long position.| Elfun Trusts vs. T Rowe Price | Elfun Trusts vs. Kinetics Market Opportunities | Elfun Trusts vs. Barings Emerging Markets | Elfun Trusts vs. Calvert Developed Market |
| STANLN vs. Meiwu Technology Co | STANLN vs. 17 Education Technology | STANLN vs. Afya | STANLN vs. Skillful Craftsman Education |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |