Correlation Between FTAI Aviation and 87264AAZ8
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By analyzing existing cross correlation between FTAI Aviation Ltd and T MOBILE USA INC, you can compare the effects of market volatilities on FTAI Aviation and 87264AAZ8 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 87264AAZ8. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTAI Aviation and 87264AAZ8.
Diversification Opportunities for FTAI Aviation and 87264AAZ8
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FTAI and 87264AAZ8 is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding FTAI Aviation Ltd and T MOBILE USA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on T MOBILE USA 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 87264AAZ8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of T MOBILE USA has no effect on the direction of FTAI Aviation i.e., FTAI Aviation and 87264AAZ8 go up and down completely randomly.
Pair Corralation between FTAI Aviation and 87264AAZ8
Assuming the 90 days horizon FTAI Aviation Ltd is expected to generate 0.54 times more return on investment than 87264AAZ8. However, FTAI Aviation Ltd is 1.85 times less risky than 87264AAZ8. It trades about 0.11 of its potential returns per unit of risk. T MOBILE USA INC is currently generating about -0.03 per unit of risk. 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 | Moves Against |
| Strength | Weak |
| Accuracy | 98.38% |
| Values | Daily Returns |
FTAI Aviation Ltd vs. T MOBILE USA INC
Performance |
| Timeline |
| FTAI Aviation |
| T MOBILE USA |
FTAI Aviation and 87264AAZ8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FTAI Aviation and 87264AAZ8
The main advantage of trading using opposite FTAI Aviation and 87264AAZ8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTAI Aviation position performs unexpectedly, 87264AAZ8 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 87264AAZ8 will offset losses from the drop in 87264AAZ8's long position.| FTAI Aviation vs. GE Vernova LLC | FTAI Aviation vs. Playtika Holding Corp | FTAI Aviation vs. Kenon Holdings | FTAI Aviation vs. Kinetik Holdings |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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