Correlation Between FactSet Research and TRAVELERS
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By analyzing existing cross correlation between FactSet Research Systems and TRAVELERS INS GROUP, you can compare the effects of market volatilities on FactSet Research and TRAVELERS 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 FactSet Research with a short position of TRAVELERS. Check out your portfolio center. Please also check ongoing floating volatility patterns of FactSet Research and TRAVELERS.
Diversification Opportunities for FactSet Research and TRAVELERS
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between FactSet and TRAVELERS is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding FactSet Research Systems and TRAVELERS INS GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TRAVELERS INS GROUP and FactSet Research 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 FactSet Research Systems are associated (or correlated) with TRAVELERS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TRAVELERS INS GROUP has no effect on the direction of FactSet Research i.e., FactSet Research and TRAVELERS go up and down completely randomly.
Pair Corralation between FactSet Research and TRAVELERS
Considering the 90-day investment horizon FactSet Research Systems is expected to generate 2.41 times more return on investment than TRAVELERS. However, FactSet Research is 2.41 times more volatile than TRAVELERS INS GROUP. It trades about 0.01 of its potential returns per unit of risk. TRAVELERS INS GROUP is currently generating about 0.0 per unit of risk. If you would invest 45,482 in FactSet Research Systems on October 22, 2024 and sell it today you would earn a total of 817.00 from holding FactSet Research Systems or generate 1.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 55.7% |
| Values | Daily Returns |
FactSet Research Systems vs. TRAVELERS INS GROUP
Performance |
| Timeline |
| FactSet Research Systems |
| TRAVELERS INS GROUP |
FactSet Research and TRAVELERS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FactSet Research and TRAVELERS
The main advantage of trading using opposite FactSet Research and TRAVELERS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FactSet Research position performs unexpectedly, TRAVELERS 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 TRAVELERS will offset losses from the drop in TRAVELERS's long position.| FactSet Research vs. Dun Bradstreet Holdings | FactSet Research vs. Moodys | FactSet Research vs. MSCI Inc | FactSet Research vs. Intercontinental Exchange |
| TRAVELERS vs. Codexis | TRAVELERS vs. CVR Partners LP | TRAVELERS vs. Entegris | TRAVELERS vs. ASML Holding NV |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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