Correlation Between NYSE Composite and FRESLN
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By analyzing existing cross correlation between NYSE Composite and FRESLN 425 02 OCT 50, you can compare the effects of market volatilities on NYSE Composite and FRESLN 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 FRESLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of NYSE Composite and FRESLN.
Diversification Opportunities for NYSE Composite and FRESLN
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between NYSE and FRESLN is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding NYSE Composite and FRESLN 425 02 OCT 50 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FRESLN 425 02 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 FRESLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FRESLN 425 02 has no effect on the direction of NYSE Composite i.e., NYSE Composite and FRESLN go up and down completely randomly.
Pair Corralation between NYSE Composite and FRESLN
Assuming the 90 days trading horizon NYSE Composite is expected to generate 0.45 times more return on investment than FRESLN. However, NYSE Composite is 2.2 times less risky than FRESLN. It trades about 0.07 of its potential returns per unit of risk. FRESLN 425 02 OCT 50 is currently generating about -0.01 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 Together |
| Strength | Very Weak |
| Accuracy | 24.09% |
| Values | Daily Returns |
NYSE Composite vs. FRESLN 425 02 OCT 50
Performance |
| Timeline |
NYSE Composite and FRESLN Volatility Contrast
Predicted Return Density |
| Returns |
NYSE Composite
Pair trading matchups for NYSE Composite
FRESLN 425 02 OCT 50
Pair trading matchups for FRESLN
Pair Trading with NYSE Composite and FRESLN
The main advantage of trading using opposite NYSE Composite and FRESLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NYSE Composite position performs unexpectedly, FRESLN 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 FRESLN will offset losses from the drop in FRESLN's long position.| NYSE Composite vs. Lion One Metals | NYSE Composite vs. Codexis | NYSE Composite vs. Yuexiu Transport Infrastructure | NYSE Composite vs. Saia Inc |
| FRESLN vs. AEP TEX INC | FRESLN vs. US BANK NATIONAL | FRESLN vs. Reliance Global Group | FRESLN vs. Bayerische Motoren Werke |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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