Correlation Between Eastman Kodak and 197677AG2
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By analyzing existing cross correlation between Eastman Kodak Co and HCA 769 percent, you can compare the effects of market volatilities on Eastman Kodak and 197677AG2 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 197677AG2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastman Kodak and 197677AG2.
Diversification Opportunities for Eastman Kodak and 197677AG2
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Eastman and 197677AG2 is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Eastman Kodak Co and HCA 769 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HCA 769 percent 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 197677AG2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HCA 769 percent has no effect on the direction of Eastman Kodak i.e., Eastman Kodak and 197677AG2 go up and down completely randomly.
Pair Corralation between Eastman Kodak and 197677AG2
Given the investment horizon of 90 days Eastman Kodak Co is expected to generate 8.9 times more return on investment than 197677AG2. However, Eastman Kodak is 8.9 times more volatile than HCA 769 percent. It trades about 0.05 of its potential returns per unit of risk. HCA 769 percent is currently generating about -0.02 per unit of risk. If you would invest 345.00 in Eastman Kodak Co on September 4, 2024 and sell it today you would earn a total of 323.00 from holding Eastman Kodak Co or generate 93.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 93.54% |
| Values | Daily Returns |
Eastman Kodak Co vs. HCA 769 percent
Performance |
| Timeline |
| Eastman Kodak |
| HCA 769 percent |
Eastman Kodak and 197677AG2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastman Kodak and 197677AG2
The main advantage of trading using opposite Eastman Kodak and 197677AG2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastman Kodak position performs unexpectedly, 197677AG2 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 197677AG2 will offset losses from the drop in 197677AG2's long position.| Eastman Kodak vs. SMX Public Limited | Eastman Kodak vs. System1 | Eastman Kodak vs. Lichen China Limited | Eastman Kodak vs. Team Inc |
| 197677AG2 vs. Eastman Kodak Co | 197677AG2 vs. Sligro Food Group | 197677AG2 vs. Torm PLC Class | 197677AG2 vs. MGIC Investment Corp |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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