Correlation Between Franklin Credit and PUBLIC
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By analyzing existing cross correlation between Franklin Credit Management and PUBLIC SERVICE PANY, you can compare the effects of market volatilities on Franklin Credit and PUBLIC 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 PUBLIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Credit and PUBLIC.
Diversification Opportunities for Franklin Credit and PUBLIC
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Franklin and PUBLIC is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Credit Management and PUBLIC SERVICE PANY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PUBLIC SERVICE PANY 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 PUBLIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PUBLIC SERVICE PANY has no effect on the direction of Franklin Credit i.e., Franklin Credit and PUBLIC go up and down completely randomly.
Pair Corralation between Franklin Credit and PUBLIC
Given the investment horizon of 90 days Franklin Credit Management is expected to generate 2.6 times more return on investment than PUBLIC. However, Franklin Credit is 2.6 times more volatile than PUBLIC SERVICE PANY. It trades about 0.07 of its potential returns per unit of risk. PUBLIC SERVICE PANY is currently generating about -0.15 per unit of risk. If you would invest 10.00 in Franklin Credit Management on September 3, 2024 and sell it today you would earn a total of 1.00 from holding Franklin Credit Management or generate 10.0% 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. PUBLIC SERVICE PANY
Performance |
| Timeline |
| Franklin Credit Mana |
| PUBLIC SERVICE PANY |
Franklin Credit and PUBLIC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Credit and PUBLIC
The main advantage of trading using opposite Franklin Credit and PUBLIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Credit position performs unexpectedly, PUBLIC 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 PUBLIC will offset losses from the drop in PUBLIC's long position.| Franklin Credit vs. Global Healthcare REIT | Franklin Credit vs. Freedom Bank of | Franklin Credit vs. Hinto Energy | Franklin Credit vs. Ensurge |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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