Correlation Between HAN GINS and Dow Jones
Can any of the company-specific risk be diversified away by investing in both HAN GINS and Dow Jones at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining HAN GINS and Dow Jones into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between HAN GINS Tech Megatrend and Dow Jones Industrial, you can compare the effects of market volatilities on HAN GINS and Dow Jones 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 HAN GINS with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of HAN GINS and Dow Jones.
Diversification Opportunities for HAN GINS and Dow Jones
Pay attention - limited upside
The 3 months correlation between HAN and Dow is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HAN GINS Tech Megatrend and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and HAN GINS 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 HAN GINS Tech Megatrend are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of HAN GINS i.e., HAN GINS and Dow Jones go up and down completely randomly.
Pair Corralation between HAN GINS and Dow Jones
If you would invest 3,313,637 in Dow Jones Industrial on September 23, 2024 and sell it today you would earn a total of 970,389 from holding Dow Jones Industrial or generate 29.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
HAN GINS Tech Megatrend vs. Dow Jones Industrial
Performance |
| Timeline |
HAN GINS and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
HAN GINS Tech Megatrend
Pair trading matchups for HAN GINS
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with HAN GINS and Dow Jones
The main advantage of trading using opposite HAN GINS and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HAN GINS position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| HAN GINS vs. Amundi Index Solutions | HAN GINS vs. Multi Units Luxembourg | HAN GINS vs. iShares Digital Entertainment | HAN GINS vs. Amundi Index Solutions |
| Dow Jones vs. Teleflex Incorporated | Dow Jones vs. Sonida Senior Living | Dow Jones vs. Avadel Pharmaceuticals PLC | Dow Jones vs. Cardinal Health |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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