Correlation Between Franklin Floating and Dalata Hotel
Specify exactly 2 symbols:
By analyzing existing cross correlation between Franklin Floating Rate and Dalata Hotel Group, you can compare the effects of market volatilities on Franklin Floating and Dalata Hotel 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 Franklin Floating with a short position of Dalata Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Floating and Dalata Hotel.
Diversification Opportunities for Franklin Floating and Dalata Hotel
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Franklin and Dalata is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Floating Rate and Dalata Hotel Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dalata Hotel Group and Franklin Floating 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 Franklin Floating Rate are associated (or correlated) with Dalata Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dalata Hotel Group has no effect on the direction of Franklin Floating i.e., Franklin Floating and Dalata Hotel go up and down completely randomly.
Pair Corralation between Franklin Floating and Dalata Hotel
Assuming the 90 days trading horizon Franklin Floating is expected to generate 5.75 times less return on investment than Dalata Hotel. But when comparing it to its historical volatility, Franklin Floating Rate is 15.38 times less risky than Dalata Hotel. It trades about 0.31 of its potential returns per unit of risk. Dalata Hotel Group is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 422.00 in Dalata Hotel Group on August 26, 2024 and sell it today you would earn a total of 14.00 from holding Dalata Hotel Group or generate 3.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Franklin Floating Rate vs. Dalata Hotel Group
Performance |
| Timeline |
| Franklin Floating Rate |
| Dalata Hotel Group |
Franklin Floating and Dalata Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Floating and Dalata Hotel
The main advantage of trading using opposite Franklin Floating and Dalata Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Floating position performs unexpectedly, Dalata Hotel 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 Dalata Hotel will offset losses from the drop in Dalata Hotel's long position.| Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. Dalata Hotel Group | Franklin Floating vs. Uniphar Group PLC | Franklin Floating vs. KLP Aksje Fremvoksende |
| Dalata Hotel vs. AIB Group PLC | Dalata Hotel vs. Bank of Ireland | Dalata Hotel vs. Kingspan Group plc | Dalata Hotel vs. Irish Residential Properties |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. |