Correlation Between FTAI Aviation and FP Newspapers
Can any of the company-specific risk be diversified away by investing in both FTAI Aviation and FP Newspapers 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 FTAI Aviation and FP Newspapers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FTAI Aviation Ltd and FP Newspapers, you can compare the effects of market volatilities on FTAI Aviation and FP Newspapers 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 FTAI Aviation with a short position of FP Newspapers. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTAI Aviation and FP Newspapers.
Diversification Opportunities for FTAI Aviation and FP Newspapers
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FTAI and FPNUF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FTAI Aviation Ltd and FP Newspapers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FP Newspapers and FTAI Aviation 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 FTAI Aviation Ltd are associated (or correlated) with FP Newspapers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FP Newspapers has no effect on the direction of FTAI Aviation i.e., FTAI Aviation and FP Newspapers go up and down completely randomly.
Pair Corralation between FTAI Aviation and FP Newspapers
If you would invest 2,288 in FTAI Aviation Ltd on September 4, 2024 and sell it today you would earn a total of 412.00 from holding FTAI Aviation Ltd or generate 18.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FTAI Aviation Ltd vs. FP Newspapers
Performance |
| Timeline |
| FTAI Aviation |
| FP Newspapers |
FTAI Aviation and FP Newspapers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FTAI Aviation and FP Newspapers
The main advantage of trading using opposite FTAI Aviation and FP Newspapers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTAI Aviation position performs unexpectedly, FP Newspapers 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 FP Newspapers will offset losses from the drop in FP Newspapers' long position.| FTAI Aviation vs. GE Vernova LLC | FTAI Aviation vs. Playtika Holding Corp | FTAI Aviation vs. Kenon Holdings | FTAI Aviation vs. Kinetik Holdings |
| FP Newspapers vs. U Haul Holding | FP Newspapers vs. FTAI Aviation Ltd | FP Newspapers vs. Fortress Transp Infra | FP Newspapers vs. Rackspace Technology |
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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