Correlation Between Genprex and EXELON
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By analyzing existing cross correlation between Genprex and EXELON GENERATION LLC, you can compare the effects of market volatilities on Genprex and EXELON 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 Genprex with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genprex and EXELON.
Diversification Opportunities for Genprex and EXELON
Pay attention - limited upside
The 3 months correlation between Genprex and EXELON is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Genprex and EXELON GENERATION LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON GENERATION LLC and Genprex 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 Genprex are associated (or correlated) with EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON GENERATION LLC has no effect on the direction of Genprex i.e., Genprex and EXELON go up and down completely randomly.
Pair Corralation between Genprex and EXELON
Given the investment horizon of 90 days Genprex is expected to under-perform the EXELON. In addition to that, Genprex is 19.19 times more volatile than EXELON GENERATION LLC. It trades about -0.22 of its total potential returns per unit of risk. EXELON GENERATION LLC is currently generating about 0.1 per unit of volatility. If you would invest 9,902 in EXELON GENERATION LLC on August 27, 2024 and sell it today you would earn a total of 154.00 from holding EXELON GENERATION LLC or generate 1.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Genprex vs. EXELON GENERATION LLC
Performance |
| Timeline |
| Genprex |
| EXELON GENERATION LLC |
Genprex and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Genprex and EXELON
The main advantage of trading using opposite Genprex and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genprex position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Genprex vs. Reviva Pharmaceuticals Holdings | Genprex vs. Greenwich Lifesciences | Genprex vs. Cognition Therapeutics | Genprex vs. Reviva Pharmaceuticals Holdings |
| EXELON vs. AEP TEX INC | EXELON vs. US BANK NATIONAL | EXELON vs. Dupont De Nemours | EXELON vs. The Travelers Companies |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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