Correlation Between German American and 90331HPL1
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By analyzing existing cross correlation between German American Bancorp and US BANK NATIONAL, you can compare the effects of market volatilities on German American and 90331HPL1 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 German American with a short position of 90331HPL1. Check out your portfolio center. Please also check ongoing floating volatility patterns of German American and 90331HPL1.
Diversification Opportunities for German American and 90331HPL1
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between German and 90331HPL1 is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding German American Bancorp and US BANK NATIONAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US BANK NATIONAL and German American 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 German American Bancorp are associated (or correlated) with 90331HPL1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US BANK NATIONAL has no effect on the direction of German American i.e., German American and 90331HPL1 go up and down completely randomly.
Pair Corralation between German American and 90331HPL1
Given the investment horizon of 90 days German American is expected to generate 129.86 times less return on investment than 90331HPL1. But when comparing it to its historical volatility, German American Bancorp is 53.22 times less risky than 90331HPL1. It trades about 0.04 of its potential returns per unit of risk. US BANK NATIONAL is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 9,484 in US BANK NATIONAL on August 30, 2024 and sell it today you would earn a total of 63.00 from holding US BANK NATIONAL or generate 0.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 62.7% |
| Values | Daily Returns |
German American Bancorp vs. US BANK NATIONAL
Performance |
| Timeline |
| German American Bancorp |
| US BANK NATIONAL |
German American and 90331HPL1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with German American and 90331HPL1
The main advantage of trading using opposite German American and 90331HPL1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if German American position performs unexpectedly, 90331HPL1 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 90331HPL1 will offset losses from the drop in 90331HPL1's long position.| German American vs. Lakeland Financial | German American vs. Great Southern Bancorp | German American vs. First Merchants | German American vs. First Financial |
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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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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