Correlation Between Hasbro and GLENLN
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By analyzing existing cross correlation between Hasbro Inc and GLENLN 1625 01 SEP 25, you can compare the effects of market volatilities on Hasbro and GLENLN 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 Hasbro with a short position of GLENLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hasbro and GLENLN.
Diversification Opportunities for Hasbro and GLENLN
Excellent diversification
The 3 months correlation between Hasbro and GLENLN is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Hasbro Inc and GLENLN 1625 01 SEP 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLENLN 1625 01 and Hasbro 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 Hasbro Inc are associated (or correlated) with GLENLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLENLN 1625 01 has no effect on the direction of Hasbro i.e., Hasbro and GLENLN go up and down completely randomly.
Pair Corralation between Hasbro and GLENLN
Considering the 90-day investment horizon Hasbro Inc is expected to generate 3.58 times more return on investment than GLENLN. However, Hasbro is 3.58 times more volatile than GLENLN 1625 01 SEP 25. It trades about -0.03 of its potential returns per unit of risk. GLENLN 1625 01 SEP 25 is currently generating about -0.11 per unit of risk. If you would invest 6,655 in Hasbro Inc on September 12, 2024 and sell it today you would lose (217.00) from holding Hasbro Inc or give up 3.26% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 67.19% |
| Values | Daily Returns |
Hasbro Inc vs. GLENLN 1625 01 SEP 25
Performance |
| Timeline |
| Hasbro Inc |
| GLENLN 1625 01 |
Hasbro and GLENLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hasbro and GLENLN
The main advantage of trading using opposite Hasbro and GLENLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hasbro position performs unexpectedly, GLENLN 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 GLENLN will offset losses from the drop in GLENLN's long position.| Hasbro vs. Clarus Corp | Hasbro vs. Escalade Incorporated | Hasbro vs. Johnson Outdoors | Hasbro vs. JAKKS Pacific |
| GLENLN vs. Primo Brands | GLENLN vs. Celsius Holdings | GLENLN vs. Willamette Valley Vineyards | GLENLN vs. China Tontine Wines |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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