Correlation Between Marine Products and FDG Electric
Can any of the company-specific risk be diversified away by investing in both Marine Products and FDG Electric 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 Marine Products and FDG Electric into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marine Products and FDG Electric Vehicles, you can compare the effects of market volatilities on Marine Products and FDG Electric 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 Marine Products with a short position of FDG Electric. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marine Products and FDG Electric.
Diversification Opportunities for Marine Products and FDG Electric
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Marine and FDG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Marine Products and FDG Electric Vehicles in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FDG Electric Vehicles and Marine Products 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 Marine Products are associated (or correlated) with FDG Electric. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FDG Electric Vehicles has no effect on the direction of Marine Products i.e., Marine Products and FDG Electric go up and down completely randomly.
Pair Corralation between Marine Products and FDG Electric
If you would invest 928.00 in Marine Products on September 1, 2024 and sell it today you would earn a total of 61.00 from holding Marine Products or generate 6.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Marine Products vs. FDG Electric Vehicles
Performance |
| Timeline |
| Marine Products |
| FDG Electric Vehicles |
Marine Products and FDG Electric Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marine Products and FDG Electric
The main advantage of trading using opposite Marine Products and FDG Electric positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marine Products position performs unexpectedly, FDG Electric 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 FDG Electric will offset losses from the drop in FDG Electric's long position.| Marine Products vs. LCI Industries | Marine Products vs. MCBC Holdings | Marine Products vs. Winnebago Industries | Marine Products vs. Thor Industries |
| FDG Electric vs. Allison Transmission Holdings | FDG Electric vs. Luminar Technologies | FDG Electric vs. Quantumscape Corp | FDG Electric vs. Lear Corporation |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |