Correlation Between Eastman Kodak and 00206RMP4
Specify exactly 2 symbols:
By analyzing existing cross correlation between Eastman Kodak Co and T 55 20 FEB 26, you can compare the effects of market volatilities on Eastman Kodak and 00206RMP4 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 Eastman Kodak with a short position of 00206RMP4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastman Kodak and 00206RMP4.
Diversification Opportunities for Eastman Kodak and 00206RMP4
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eastman and 00206RMP4 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eastman Kodak Co and T 55 20 FEB 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 00206RMP4 and Eastman Kodak 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 Eastman Kodak Co are associated (or correlated) with 00206RMP4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 00206RMP4 has no effect on the direction of Eastman Kodak i.e., Eastman Kodak and 00206RMP4 go up and down completely randomly.
Pair Corralation between Eastman Kodak and 00206RMP4
If you would invest 345.00 in Eastman Kodak Co on September 4, 2024 and sell it today you would earn a total of 377.00 from holding Eastman Kodak Co or generate 109.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Eastman Kodak Co vs. T 55 20 FEB 26
Performance |
| Timeline |
| Eastman Kodak |
| 00206RMP4 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Eastman Kodak and 00206RMP4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastman Kodak and 00206RMP4
The main advantage of trading using opposite Eastman Kodak and 00206RMP4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastman Kodak position performs unexpectedly, 00206RMP4 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 00206RMP4 will offset losses from the drop in 00206RMP4's long position.| Eastman Kodak vs. SMX Public Limited | Eastman Kodak vs. System1 | Eastman Kodak vs. Lichen China Limited | Eastman Kodak vs. Team Inc |
| 00206RMP4 vs. Bright Scholar Education | 00206RMP4 vs. Scholastic | 00206RMP4 vs. Zane Interactive Publishing | 00206RMP4 vs. Universal Technical Institute |
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.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |