Correlation Between GE Aerospace and CABLEVISION
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By analyzing existing cross correlation between GE Aerospace and CABLEVISION LIGHTPATH LLC, you can compare the effects of market volatilities on GE Aerospace and CABLEVISION 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 GE Aerospace with a short position of CABLEVISION. Check out your portfolio center. Please also check ongoing floating volatility patterns of GE Aerospace and CABLEVISION.
Diversification Opportunities for GE Aerospace and CABLEVISION
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between GE Aerospace and CABLEVISION is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding GE Aerospace and CABLEVISION LIGHTPATH LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CABLEVISION LIGHTPATH LLC and GE Aerospace 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 GE Aerospace are associated (or correlated) with CABLEVISION. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CABLEVISION LIGHTPATH LLC has no effect on the direction of GE Aerospace i.e., GE Aerospace and CABLEVISION go up and down completely randomly.
Pair Corralation between GE Aerospace and CABLEVISION
Allowing for the 90-day total investment horizon GE Aerospace is expected to generate 0.98 times more return on investment than CABLEVISION. However, GE Aerospace is 1.02 times less risky than CABLEVISION. It trades about 0.15 of its potential returns per unit of risk. CABLEVISION LIGHTPATH LLC is currently generating about 0.04 per unit of risk. If you would invest 9,546 in GE Aerospace on September 4, 2024 and sell it today you would earn a total of 8,526 from holding GE Aerospace or generate 89.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 73.68% |
| Values | Daily Returns |
GE Aerospace vs. CABLEVISION LIGHTPATH LLC
Performance |
| Timeline |
| GE Aerospace |
| CABLEVISION LIGHTPATH LLC |
GE Aerospace and CABLEVISION Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GE Aerospace and CABLEVISION
The main advantage of trading using opposite GE Aerospace and CABLEVISION positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GE Aerospace position performs unexpectedly, CABLEVISION 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 CABLEVISION will offset losses from the drop in CABLEVISION's long position.| GE Aerospace vs. Illinois Tool Works | GE Aerospace vs. Dover | GE Aerospace vs. Cummins | GE Aerospace vs. Eaton PLC |
| CABLEVISION vs. The Travelers Companies | CABLEVISION vs. GE Aerospace | CABLEVISION vs. Walmart | CABLEVISION vs. Pfizer Inc |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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