Correlation Between Old Republic and EXELON
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By analyzing existing cross correlation between Old Republic International and EXELON GENERATION LLC, you can compare the effects of market volatilities on Old Republic 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 Old Republic with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Old Republic and EXELON.
Diversification Opportunities for Old Republic and EXELON
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Old and EXELON is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Old Republic International 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 Old Republic 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 Old Republic International 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 Old Republic i.e., Old Republic and EXELON go up and down completely randomly.
Pair Corralation between Old Republic and EXELON
Considering the 90-day investment horizon Old Republic International is expected to generate 1.07 times more return on investment than EXELON. However, Old Republic is 1.07 times more volatile than EXELON GENERATION LLC. It trades about 0.09 of its potential returns per unit of risk. EXELON GENERATION LLC is currently generating about 0.0 per unit of risk. If you would invest 2,823 in Old Republic International on September 12, 2024 and sell it today you would earn a total of 817.00 from holding Old Republic International or generate 28.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.16% |
| Values | Daily Returns |
Old Republic International vs. EXELON GENERATION LLC
Performance |
| Timeline |
| Old Republic Interna |
| EXELON GENERATION LLC |
Old Republic and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Old Republic and EXELON
The main advantage of trading using opposite Old Republic and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Old Republic 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.| Old Republic vs. Axa Equitable Holdings | Old Republic vs. American International Group | Old Republic vs. Arch Capital Group | Old Republic vs. Sun Life 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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