Correlation Between Frontier Energy and GEN Restaurant
Can any of the company-specific risk be diversified away by investing in both Frontier Energy and GEN Restaurant at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Frontier Energy and GEN Restaurant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Frontier Energy Corp and GEN Restaurant Group,, you can compare the effects of market volatilities on Frontier Energy and GEN Restaurant 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 Frontier Energy with a short position of GEN Restaurant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Frontier Energy and GEN Restaurant.
Diversification Opportunities for Frontier Energy and GEN Restaurant
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Frontier and GEN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Frontier Energy Corp and GEN Restaurant Group, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GEN Restaurant Group, and Frontier Energy 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 Frontier Energy Corp are associated (or correlated) with GEN Restaurant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GEN Restaurant Group, has no effect on the direction of Frontier Energy i.e., Frontier Energy and GEN Restaurant go up and down completely randomly.
Pair Corralation between Frontier Energy and GEN Restaurant
If you would invest 0.00 in Frontier Energy Corp on November 19, 2024 and sell it today you would earn a total of 0.00 from holding Frontier Energy Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 83.6% |
| Values | Daily Returns |
Frontier Energy Corp vs. GEN Restaurant Group,
Performance |
| Timeline |
| Frontier Energy Corp |
| GEN Restaurant Group, |
Frontier Energy and GEN Restaurant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Frontier Energy and GEN Restaurant
The main advantage of trading using opposite Frontier Energy and GEN Restaurant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Frontier Energy position performs unexpectedly, GEN Restaurant 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 GEN Restaurant will offset losses from the drop in GEN Restaurant's long position.| Frontier Energy vs. Ferrari NV | Frontier Energy vs. Allegiant Travel | Frontier Energy vs. United Airlines Holdings | Frontier Energy vs. Frontier Group Holdings |
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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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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