Correlation Between Expand Energy and ACGCAP
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By analyzing existing cross correlation between Expand Energy and ACGCAP 195 30 JAN 26, you can compare the effects of market volatilities on Expand Energy and ACGCAP 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 Expand Energy with a short position of ACGCAP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Expand Energy and ACGCAP.
Diversification Opportunities for Expand Energy and ACGCAP
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Expand and ACGCAP is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Expand Energy and ACGCAP 195 30 JAN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACGCAP 195 30 and Expand Energy 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 Expand Energy are associated (or correlated) with ACGCAP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACGCAP 195 30 has no effect on the direction of Expand Energy i.e., Expand Energy and ACGCAP go up and down completely randomly.
Pair Corralation between Expand Energy and ACGCAP
Assuming the 90 days horizon Expand Energy is expected to generate 0.99 times more return on investment than ACGCAP. However, Expand Energy is 1.01 times less risky than ACGCAP. It trades about 0.35 of its potential returns per unit of risk. ACGCAP 195 30 JAN 26 is currently generating about -0.22 per unit of risk. If you would invest 8,963 in Expand Energy on November 3, 2024 and sell it today you would earn a total of 1,169 from holding Expand Energy or generate 13.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
Expand Energy vs. ACGCAP 195 30 JAN 26
Performance |
| Timeline |
| Expand Energy |
| ACGCAP 195 30 |
Expand Energy and ACGCAP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Expand Energy and ACGCAP
The main advantage of trading using opposite Expand Energy and ACGCAP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Expand Energy position performs unexpectedly, ACGCAP 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 ACGCAP will offset losses from the drop in ACGCAP's long position.| Expand Energy vs. Grupo Aeroportuario del | Expand Energy vs. Mako Mining Corp | Expand Energy vs. ioneer Ltd American | Expand Energy vs. Harmony Gold Mining |
| ACGCAP vs. Cedar Realty Trust | ACGCAP vs. Western Acquisition Ventures | ACGCAP vs. Inflection Point Acquisition | ACGCAP vs. Proficient Auto Logistics, |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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