Correlation Between Frp Holdings and New York
Can any of the company-specific risk be diversified away by investing in both Frp Holdings and New York 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 Frp Holdings and New York into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Frp Holdings Ord and New York City, you can compare the effects of market volatilities on Frp Holdings and New York 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 Frp Holdings with a short position of New York. Check out your portfolio center. Please also check ongoing floating volatility patterns of Frp Holdings and New York.
Diversification Opportunities for Frp Holdings and New York
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Frp and New is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Frp Holdings Ord and New York City in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on New York City and Frp Holdings 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 Frp Holdings Ord are associated (or correlated) with New York. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of New York City has no effect on the direction of Frp Holdings i.e., Frp Holdings and New York go up and down completely randomly.
Pair Corralation between Frp Holdings and New York
Given the investment horizon of 90 days Frp Holdings Ord is expected to generate 0.38 times more return on investment than New York. However, Frp Holdings Ord is 2.61 times less risky than New York. It trades about 0.02 of its potential returns per unit of risk. New York City is currently generating about -0.01 per unit of risk. If you would invest 2,966 in Frp Holdings Ord on August 27, 2024 and sell it today you would earn a total of 282.00 from holding Frp Holdings Ord or generate 9.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Frp Holdings Ord vs. New York City
Performance |
| Timeline |
| Frp Holdings Ord |
| New York City |
Frp Holdings and New York Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Frp Holdings and New York
The main advantage of trading using opposite Frp Holdings and New York positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Frp Holdings position performs unexpectedly, New York 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 New York will offset losses from the drop in New York's long position.| Frp Holdings vs. Transcontinental Realty Investors | Frp Holdings vs. Anywhere Real Estate | Frp Holdings vs. Re Max Holding | Frp Holdings vs. New England Realty |
| New York vs. MDJM | New York vs. New Concept Energy | New York vs. Fangdd Network Group | New York vs. Avalon GloboCare Corp |
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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |