Correlation Between FTAI Aviation and Wicket Gaming
Can any of the company-specific risk be diversified away by investing in both FTAI Aviation and Wicket Gaming 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 Wicket Gaming 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 Wicket Gaming AB, you can compare the effects of market volatilities on FTAI Aviation and Wicket Gaming 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 Wicket Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTAI Aviation and Wicket Gaming.
Diversification Opportunities for FTAI Aviation and Wicket Gaming
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FTAI and Wicket is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FTAI Aviation Ltd and Wicket Gaming AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wicket Gaming AB 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 Wicket Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wicket Gaming AB has no effect on the direction of FTAI Aviation i.e., FTAI Aviation and Wicket Gaming go up and down completely randomly.
Pair Corralation between FTAI Aviation and Wicket Gaming
If you would invest 2,693 in FTAI Aviation Ltd on September 1, 2024 and sell it today you would earn a total of 95.00 from holding FTAI Aviation Ltd or generate 3.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 57.14% |
| Values | Daily Returns |
FTAI Aviation Ltd vs. Wicket Gaming AB
Performance |
| Timeline |
| FTAI Aviation |
| Wicket Gaming AB |
FTAI Aviation and Wicket Gaming Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FTAI Aviation and Wicket Gaming
The main advantage of trading using opposite FTAI Aviation and Wicket Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTAI Aviation position performs unexpectedly, Wicket Gaming 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 Wicket Gaming will offset losses from the drop in Wicket Gaming's long position.| FTAI Aviation vs. Ryder System | FTAI Aviation vs. Air Lease | FTAI Aviation vs. Vestis | FTAI Aviation vs. Willis Lease Finance |
| Wicket Gaming vs. Molson Coors Brewing | Wicket Gaming vs. Vita Coco | Wicket Gaming vs. WEC Energy Group | Wicket Gaming vs. Pure Cycle |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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