Correlation Between Southwest Airlines and Unifin Financiera
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By analyzing existing cross correlation between Southwest Airlines and Unifin Financiera S, you can compare the effects of market volatilities on Southwest Airlines and Unifin Financiera 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 Southwest Airlines with a short position of Unifin Financiera. Check out your portfolio center. Please also check ongoing floating volatility patterns of Southwest Airlines and Unifin Financiera.
Diversification Opportunities for Southwest Airlines and Unifin Financiera
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Southwest and Unifin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Southwest Airlines and Unifin Financiera S in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unifin Financiera and Southwest Airlines 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 Southwest Airlines are associated (or correlated) with Unifin Financiera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Unifin Financiera has no effect on the direction of Southwest Airlines i.e., Southwest Airlines and Unifin Financiera go up and down completely randomly.
Pair Corralation between Southwest Airlines and Unifin Financiera
If you would invest 67,000 in Southwest Airlines on September 12, 2024 and sell it today you would earn a total of 1,000.00 from holding Southwest Airlines or generate 1.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Southwest Airlines vs. Unifin Financiera S
Performance |
| Timeline |
| Southwest Airlines |
| Unifin Financiera |
Southwest Airlines and Unifin Financiera Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Southwest Airlines and Unifin Financiera
The main advantage of trading using opposite Southwest Airlines and Unifin Financiera positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Southwest Airlines position performs unexpectedly, Unifin Financiera 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 Unifin Financiera will offset losses from the drop in Unifin Financiera's long position.| Southwest Airlines vs. Delta Air Lines | Southwest Airlines vs. United Airlines Holdings | Southwest Airlines vs. Controladora Vuela Compaa |
| Unifin Financiera vs. Grupo Sports World | Unifin Financiera vs. Southwest Airlines | Unifin Financiera vs. Taiwan Semiconductor Manufacturing | Unifin Financiera vs. Delta Air Lines |
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 Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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