Correlation Between Ford and TNEMAK
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By analyzing existing cross correlation between Ford Motor and TNEMAK 3625 28 JUN 31, you can compare the effects of market volatilities on Ford and TNEMAK 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 Ford with a short position of TNEMAK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ford and TNEMAK.
Diversification Opportunities for Ford and TNEMAK
Good diversification
The 3 months correlation between Ford and TNEMAK is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Ford Motor and TNEMAK 3625 28 JUN 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TNEMAK 3625 28 and Ford 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 Ford Motor are associated (or correlated) with TNEMAK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TNEMAK 3625 28 has no effect on the direction of Ford i.e., Ford and TNEMAK go up and down completely randomly.
Pair Corralation between Ford and TNEMAK
Taking into account the 90-day investment horizon Ford Motor is expected to under-perform the TNEMAK. In addition to that, Ford is 1.84 times more volatile than TNEMAK 3625 28 JUN 31. It trades about -0.01 of its total potential returns per unit of risk. TNEMAK 3625 28 JUN 31 is currently generating about 0.08 per unit of volatility. If you would invest 7,868 in TNEMAK 3625 28 JUN 31 on September 3, 2024 and sell it today you would earn a total of 245.00 from holding TNEMAK 3625 28 JUN 31 or generate 3.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 23.2% |
| Values | Daily Returns |
Ford Motor vs. TNEMAK 3625 28 JUN 31
Performance |
| Timeline |
| Ford Motor |
| TNEMAK 3625 28 |
Ford and TNEMAK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ford and TNEMAK
The main advantage of trading using opposite Ford and TNEMAK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ford position performs unexpectedly, TNEMAK 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 TNEMAK will offset losses from the drop in TNEMAK's long position.| Ford vs. GreenPower Motor | Ford vs. ZEEKR Intelligent Technology | Ford vs. Volcon Inc | Ford vs. Ford Motor |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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