Correlation Between Freedom Holding and 25160PAE7
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By analyzing existing cross correlation between Freedom Holding Corp and DEUTSCHE BK AG, you can compare the effects of market volatilities on Freedom Holding 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 Freedom Holding with a short position of 25160PAE7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Freedom Holding and 25160PAE7.
Diversification Opportunities for Freedom Holding and 25160PAE7
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Freedom and 25160PAE7 is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Freedom Holding Corp 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 Freedom Holding 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 Freedom Holding Corp 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 Freedom Holding i.e., Freedom Holding and 25160PAE7 go up and down completely randomly.
Pair Corralation between Freedom Holding and 25160PAE7
Given the investment horizon of 90 days Freedom Holding Corp is expected to generate 2.41 times more return on investment than 25160PAE7. However, Freedom Holding is 2.41 times more volatile than DEUTSCHE BK AG. It trades about 0.24 of its potential returns per unit of risk. DEUTSCHE BK AG is currently generating about -0.18 per unit of risk. If you would invest 13,133 in Freedom Holding Corp on November 6, 2024 and sell it today you would earn a total of 1,176 from holding Freedom Holding Corp or generate 8.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 45.0% |
| Values | Daily Returns |
Freedom Holding Corp vs. DEUTSCHE BK AG
Performance |
| Timeline |
| Freedom Holding Corp |
| DEUTSCHE BK AG |
Freedom Holding and 25160PAE7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Freedom Holding and 25160PAE7
The main advantage of trading using opposite Freedom Holding and 25160PAE7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Freedom Holding 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.| Freedom Holding vs. Nomura Holdings ADR | Freedom Holding vs. Scully Royalty | Freedom Holding vs. Oppenheimer Holdings | Freedom Holding vs. Houlihan Lokey |
| 25160PAE7 vs. Wheels Up Experience | 25160PAE7 vs. Nok Airlines Public | 25160PAE7 vs. SkyWest | 25160PAE7 vs. Mesa Air Group |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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