Correlation Between NYSE Composite and FMEGR
Specify exactly 2 symbols:
By analyzing existing cross correlation between NYSE Composite and FMEGR 2375 16 FEB 31, you can compare the effects of market volatilities on NYSE Composite and FMEGR 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 NYSE Composite with a short position of FMEGR. Check out your portfolio center. Please also check ongoing floating volatility patterns of NYSE Composite and FMEGR.
Diversification Opportunities for NYSE Composite and FMEGR
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between NYSE and FMEGR is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding NYSE Composite and FMEGR 2375 16 FEB 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FMEGR 2375 16 and NYSE Composite 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 NYSE Composite are associated (or correlated) with FMEGR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FMEGR 2375 16 has no effect on the direction of NYSE Composite i.e., NYSE Composite and FMEGR go up and down completely randomly.
Pair Corralation between NYSE Composite and FMEGR
Assuming the 90 days trading horizon NYSE Composite is expected to generate 1.06 times more return on investment than FMEGR. However, NYSE Composite is 1.06 times more volatile than FMEGR 2375 16 FEB 31. It trades about 0.07 of its potential returns per unit of risk. FMEGR 2375 16 FEB 31 is currently generating about 0.05 per unit of risk. If you would invest 1,602,511 in NYSE Composite on November 5, 2024 and sell it today you would earn a total of 397,371 from holding NYSE Composite or generate 24.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 74.29% |
| Values | Daily Returns |
NYSE Composite vs. FMEGR 2375 16 FEB 31
Performance |
| Timeline |
NYSE Composite and FMEGR Volatility Contrast
Predicted Return Density |
| Returns |
NYSE Composite
Pair trading matchups for NYSE Composite
FMEGR 2375 16 FEB 31
Pair trading matchups for FMEGR
Pair Trading with NYSE Composite and FMEGR
The main advantage of trading using opposite NYSE Composite and FMEGR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NYSE Composite position performs unexpectedly, FMEGR 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 FMEGR will offset losses from the drop in FMEGR's long position.| NYSE Composite vs. Lion One Metals | NYSE Composite vs. Codexis | NYSE Composite vs. Yuexiu Transport Infrastructure | NYSE Composite vs. Saia Inc |
| FMEGR vs. Arrow Electronics | FMEGR vs. Emerson Radio | FMEGR vs. Cimpress NV | FMEGR vs. Integrated Media 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |