Correlation Between FTAI Aviation and 62954HBB3
Specify exactly 2 symbols:
By analyzing existing cross correlation between FTAI Aviation Ltd and NXPI 5 15 JAN 33, you can compare the effects of market volatilities on FTAI Aviation and 62954HBB3 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 62954HBB3. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTAI Aviation and 62954HBB3.
Diversification Opportunities for FTAI Aviation and 62954HBB3
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between FTAI and 62954HBB3 is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding FTAI Aviation Ltd and NXPI 5 15 JAN 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NXPI 5 15 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 62954HBB3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NXPI 5 15 has no effect on the direction of FTAI Aviation i.e., FTAI Aviation and 62954HBB3 go up and down completely randomly.
Pair Corralation between FTAI Aviation and 62954HBB3
Assuming the 90 days horizon FTAI Aviation Ltd is expected to under-perform the 62954HBB3. In addition to that, FTAI Aviation is 3.33 times more volatile than NXPI 5 15 JAN 33. It trades about -0.04 of its total potential returns per unit of risk. NXPI 5 15 JAN 33 is currently generating about 0.09 per unit of volatility. If you would invest 9,794 in NXPI 5 15 JAN 33 on September 12, 2024 and sell it today you would earn a total of 61.00 from holding NXPI 5 15 JAN 33 or generate 0.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
FTAI Aviation Ltd vs. NXPI 5 15 JAN 33
Performance |
| Timeline |
| FTAI Aviation |
| NXPI 5 15 |
FTAI Aviation and 62954HBB3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FTAI Aviation and 62954HBB3
The main advantage of trading using opposite FTAI Aviation and 62954HBB3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTAI Aviation position performs unexpectedly, 62954HBB3 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 62954HBB3 will offset losses from the drop in 62954HBB3's long position.| FTAI Aviation vs. Ryder System | FTAI Aviation vs. Air Lease | FTAI Aviation vs. Vestis | FTAI Aviation vs. Willis Lease Finance |
| 62954HBB3 vs. AEP TEX INC | 62954HBB3 vs. US BANK NATIONAL | 62954HBB3 vs. Alphabet Inc Class C | 62954HBB3 vs. InMode |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |