Correlation Between Netflix and 264399ED4
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By analyzing existing cross correlation between Netflix and DUKE PWR LLC, you can compare the effects of market volatilities on Netflix and 264399ED4 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 Netflix with a short position of 264399ED4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Netflix and 264399ED4.
Diversification Opportunities for Netflix and 264399ED4
Pay attention - limited upside
The 3 months correlation between Netflix and 264399ED4 is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Netflix and DUKE PWR LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DUKE PWR LLC and Netflix 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 Netflix are associated (or correlated) with 264399ED4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DUKE PWR LLC has no effect on the direction of Netflix i.e., Netflix and 264399ED4 go up and down completely randomly.
Pair Corralation between Netflix and 264399ED4
Given the investment horizon of 90 days Netflix is expected to generate 3.13 times more return on investment than 264399ED4. However, Netflix is 3.13 times more volatile than DUKE PWR LLC. It trades about 0.55 of its potential returns per unit of risk. DUKE PWR LLC is currently generating about 0.09 per unit of risk. If you would invest 75,551 in Netflix on September 3, 2024 and sell it today you would earn a total of 13,130 from holding Netflix or generate 17.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 90.0% |
| Values | Daily Returns |
Netflix vs. DUKE PWR LLC
Performance |
| Timeline |
| Netflix |
| DUKE PWR LLC |
Netflix and 264399ED4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Netflix and 264399ED4
The main advantage of trading using opposite Netflix and 264399ED4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Netflix position performs unexpectedly, 264399ED4 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 264399ED4 will offset losses from the drop in 264399ED4's long position.| Netflix vs. Paramount Global Class | Netflix vs. Roku Inc | Netflix vs. Warner Bros Discovery | Netflix vs. AMC Entertainment Holdings |
| 264399ED4 vs. Sun Country Airlines | 264399ED4 vs. Teleflex Incorporated | 264399ED4 vs. JetBlue Airways Corp | 264399ED4 vs. Aegean Airlines SA |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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