Correlation Between Netflix and 26439XAH6
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By analyzing existing cross correlation between Netflix and Duke Energy Field, you can compare the effects of market volatilities on Netflix and 26439XAH6 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 26439XAH6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Netflix and 26439XAH6.
Diversification Opportunities for Netflix and 26439XAH6
Very good diversification
The 3 months correlation between Netflix and 26439XAH6 is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Netflix and Duke Energy Field in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duke Energy Field 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 26439XAH6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duke Energy Field has no effect on the direction of Netflix i.e., Netflix and 26439XAH6 go up and down completely randomly.
Pair Corralation between Netflix and 26439XAH6
Given the investment horizon of 90 days Netflix is expected to generate 0.96 times more return on investment than 26439XAH6. However, Netflix is 1.05 times less risky than 26439XAH6. It trades about 0.55 of its potential returns per unit of risk. Duke Energy Field is currently generating about -0.3 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 | Insignificant |
| Accuracy | 35.0% |
| Values | Daily Returns |
Netflix vs. Duke Energy Field
Performance |
| Timeline |
| Netflix |
| Duke Energy Field |
Netflix and 26439XAH6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Netflix and 26439XAH6
The main advantage of trading using opposite Netflix and 26439XAH6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Netflix position performs unexpectedly, 26439XAH6 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 26439XAH6 will offset losses from the drop in 26439XAH6's long position.| Netflix vs. Paramount Global Class | Netflix vs. Roku Inc | Netflix vs. Warner Bros Discovery | Netflix vs. AMC Entertainment Holdings |
| 26439XAH6 vs. AEP TEX INC | 26439XAH6 vs. US BANK NATIONAL | 26439XAH6 vs. MetLife | 26439XAH6 vs. Jackson Financial |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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