Correlation Between Funko and 25160PAE7
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By analyzing existing cross correlation between Funko Inc and DEUTSCHE BK AG, you can compare the effects of market volatilities on Funko and 25160PAE7 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 Funko with a short position of 25160PAE7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Funko and 25160PAE7.
Diversification Opportunities for Funko and 25160PAE7
Very good diversification
The 3 months correlation between Funko and 25160PAE7 is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Funko Inc and DEUTSCHE BK AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DEUTSCHE BK AG and Funko 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 Funko Inc are associated (or correlated) with 25160PAE7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DEUTSCHE BK AG has no effect on the direction of Funko i.e., Funko and 25160PAE7 go up and down completely randomly.
Pair Corralation between Funko and 25160PAE7
Given the investment horizon of 90 days Funko Inc is expected to generate 4.1 times more return on investment than 25160PAE7. However, Funko is 4.1 times more volatile than DEUTSCHE BK AG. It trades about 0.15 of its potential returns per unit of risk. DEUTSCHE BK AG is currently generating about -0.16 per unit of risk. If you would invest 1,175 in Funko Inc on October 30, 2024 and sell it today you would earn a total of 170.00 from holding Funko Inc or generate 14.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 65.79% |
| Values | Daily Returns |
Funko Inc vs. DEUTSCHE BK AG
Performance |
| Timeline |
| Funko Inc |
| DEUTSCHE BK AG |
Funko and 25160PAE7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Funko and 25160PAE7
The main advantage of trading using opposite Funko and 25160PAE7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Funko position performs unexpectedly, 25160PAE7 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 25160PAE7 will offset losses from the drop in 25160PAE7's long position.The idea behind Funko Inc and DEUTSCHE BK AG pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| 25160PAE7 vs. AEP TEX INC | 25160PAE7 vs. US BANK NATIONAL | 25160PAE7 vs. BlackRock | 25160PAE7 vs. Ulta Beauty |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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