Correlation Between Large-cap Growth and EXELON
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By analyzing existing cross correlation between Large Cap Growth Profund and EXELON P 51, you can compare the effects of market volatilities on Large-cap Growth and EXELON 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 Large-cap Growth with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Large-cap Growth and EXELON.
Diversification Opportunities for Large-cap Growth and EXELON
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Large-cap and EXELON is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Large Cap Growth Profund and EXELON P 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON P 51 and Large-cap Growth 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 Large Cap Growth Profund are associated (or correlated) with EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON P 51 has no effect on the direction of Large-cap Growth i.e., Large-cap Growth and EXELON go up and down completely randomly.
Pair Corralation between Large-cap Growth and EXELON
Assuming the 90 days horizon Large Cap Growth Profund is expected to generate 0.92 times more return on investment than EXELON. However, Large Cap Growth Profund is 1.09 times less risky than EXELON. It trades about 0.09 of its potential returns per unit of risk. EXELON P 51 is currently generating about 0.01 per unit of risk. If you would invest 3,927 in Large Cap Growth Profund on August 30, 2024 and sell it today you would earn a total of 556.00 from holding Large Cap Growth Profund or generate 14.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 77.78% |
| Values | Daily Returns |
Large Cap Growth Profund vs. EXELON P 51
Performance |
| Timeline |
| Large Cap Growth |
| EXELON P 51 |
Large-cap Growth and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Large-cap Growth and EXELON
The main advantage of trading using opposite Large-cap Growth and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Large-cap Growth position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Large-cap Growth vs. T Rowe Price | Large-cap Growth vs. Maryland Tax Free Bond | Large-cap Growth vs. T Rowe Price | Large-cap Growth vs. Bbh Intermediate Municipal |
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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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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