Correlation Between Marvell Technology and EXELON
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By analyzing existing cross correlation between Marvell Technology Group and EXELON GENERATION LLC, you can compare the effects of market volatilities on Marvell Technology 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 Marvell Technology with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marvell Technology and EXELON.
Diversification Opportunities for Marvell Technology and EXELON
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Marvell and EXELON is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Marvell Technology Group and EXELON GENERATION LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON GENERATION LLC and Marvell Technology 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 Marvell Technology Group 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 GENERATION LLC has no effect on the direction of Marvell Technology i.e., Marvell Technology and EXELON go up and down completely randomly.
Pair Corralation between Marvell Technology and EXELON
Given the investment horizon of 90 days Marvell Technology Group is expected to generate 2.39 times more return on investment than EXELON. However, Marvell Technology is 2.39 times more volatile than EXELON GENERATION LLC. It trades about 0.17 of its potential returns per unit of risk. EXELON GENERATION LLC is currently generating about -0.19 per unit of risk. If you would invest 8,280 in Marvell Technology Group on August 31, 2024 and sell it today you would earn a total of 730.00 from holding Marvell Technology Group or generate 8.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 77.27% |
| Values | Daily Returns |
Marvell Technology Group vs. EXELON GENERATION LLC
Performance |
| Timeline |
| Marvell Technology |
| EXELON GENERATION LLC |
Marvell Technology and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marvell Technology and EXELON
The main advantage of trading using opposite Marvell Technology and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marvell Technology 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.| Marvell Technology vs. NVIDIA | Marvell Technology vs. Intel | Marvell Technology vs. Taiwan Semiconductor Manufacturing | Marvell Technology vs. Micron Technology |
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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