Correlation Between Franklin Credit and 74340XBU4
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By analyzing existing cross correlation between Franklin Credit Management and PLD 325 30 JUN 26, you can compare the effects of market volatilities on Franklin Credit and 74340XBU4 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 Franklin Credit with a short position of 74340XBU4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Credit and 74340XBU4.
Diversification Opportunities for Franklin Credit and 74340XBU4
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Franklin and 74340XBU4 is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Credit Management and PLD 325 30 JUN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PLD 325 30 and Franklin Credit 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 Franklin Credit Management are associated (or correlated) with 74340XBU4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PLD 325 30 has no effect on the direction of Franklin Credit i.e., Franklin Credit and 74340XBU4 go up and down completely randomly.
Pair Corralation between Franklin Credit and 74340XBU4
Given the investment horizon of 90 days Franklin Credit Management is expected to under-perform the 74340XBU4. In addition to that, Franklin Credit is 38.94 times more volatile than PLD 325 30 JUN 26. It trades about -0.11 of its total potential returns per unit of risk. PLD 325 30 JUN 26 is currently generating about 0.14 per unit of volatility. If you would invest 9,813 in PLD 325 30 JUN 26 on September 2, 2024 and sell it today you would earn a total of 39.00 from holding PLD 325 30 JUN 26 or generate 0.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Franklin Credit Management vs. PLD 325 30 JUN 26
Performance |
| Timeline |
| Franklin Credit Mana |
| PLD 325 30 |
Franklin Credit and 74340XBU4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Credit and 74340XBU4
The main advantage of trading using opposite Franklin Credit and 74340XBU4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Credit position performs unexpectedly, 74340XBU4 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 74340XBU4 will offset losses from the drop in 74340XBU4's long position.| Franklin Credit vs. Global Healthcare REIT | Franklin Credit vs. Freedom Bank of | Franklin Credit vs. Hinto Energy | Franklin Credit vs. Ensurge |
| 74340XBU4 vs. Comstock Holding Companies | 74340XBU4 vs. China Aircraft Leasing | 74340XBU4 vs. Link Real Estate | 74340XBU4 vs. Black Hills |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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