Correlation Between FTAI Aviation and 67021CAS6
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By analyzing existing cross correlation between FTAI Aviation Ltd and ES 455 01 JUN 52, you can compare the effects of market volatilities on FTAI Aviation and 67021CAS6 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 67021CAS6. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTAI Aviation and 67021CAS6.
Diversification Opportunities for FTAI Aviation and 67021CAS6
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between FTAI and 67021CAS6 is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding FTAI Aviation Ltd and ES 455 01 JUN 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ES 455 01 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 67021CAS6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ES 455 01 has no effect on the direction of FTAI Aviation i.e., FTAI Aviation and 67021CAS6 go up and down completely randomly.
Pair Corralation between FTAI Aviation and 67021CAS6
Assuming the 90 days horizon FTAI Aviation is expected to generate 1.05 times less return on investment than 67021CAS6. But when comparing it to its historical volatility, FTAI Aviation Ltd is 4.44 times less risky than 67021CAS6. It trades about 0.09 of its potential returns per unit of risk. ES 455 01 JUN 52 is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 9,077 in ES 455 01 JUN 52 on September 12, 2024 and sell it today you would earn a total of 277.00 from holding ES 455 01 JUN 52 or generate 3.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 48.01% |
| Values | Daily Returns |
FTAI Aviation Ltd vs. ES 455 01 JUN 52
Performance |
| Timeline |
| FTAI Aviation |
| ES 455 01 |
FTAI Aviation and 67021CAS6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FTAI Aviation and 67021CAS6
The main advantage of trading using opposite FTAI Aviation and 67021CAS6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTAI Aviation position performs unexpectedly, 67021CAS6 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 67021CAS6 will offset losses from the drop in 67021CAS6's long position.| FTAI Aviation vs. Ryder System | FTAI Aviation vs. Air Lease | FTAI Aviation vs. Vestis | FTAI Aviation vs. Willis Lease Finance |
| 67021CAS6 vs. United Rentals | 67021CAS6 vs. Global Ship Lease | 67021CAS6 vs. FTAI Aviation Ltd | 67021CAS6 vs. Air Lease |
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.
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