Correlation Between Procter Gamble and REGENCY
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By analyzing existing cross correlation between Procter Gamble and REGENCY CTRS L, you can compare the effects of market volatilities on Procter Gamble and REGENCY 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 Procter Gamble with a short position of REGENCY. Check out your portfolio center. Please also check ongoing floating volatility patterns of Procter Gamble and REGENCY.
Diversification Opportunities for Procter Gamble and REGENCY
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Procter and REGENCY is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding Procter Gamble and REGENCY CTRS L in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on REGENCY CTRS L and Procter Gamble 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 Procter Gamble are associated (or correlated) with REGENCY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of REGENCY CTRS L has no effect on the direction of Procter Gamble i.e., Procter Gamble and REGENCY go up and down completely randomly.
Pair Corralation between Procter Gamble and REGENCY
Allowing for the 90-day total investment horizon Procter Gamble is expected to generate 1.53 times more return on investment than REGENCY. However, Procter Gamble is 1.53 times more volatile than REGENCY CTRS L. It trades about 0.15 of its potential returns per unit of risk. REGENCY CTRS L is currently generating about -0.27 per unit of risk. If you would invest 16,958 in Procter Gamble on August 24, 2024 and sell it today you would earn a total of 670.00 from holding Procter Gamble or generate 3.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 69.57% |
| Values | Daily Returns |
Procter Gamble vs. REGENCY CTRS L
Performance |
| Timeline |
| Procter Gamble |
| REGENCY CTRS L |
Procter Gamble and REGENCY Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Procter Gamble and REGENCY
The main advantage of trading using opposite Procter Gamble and REGENCY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Procter Gamble position performs unexpectedly, REGENCY 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 REGENCY will offset losses from the drop in REGENCY's long position.| Procter Gamble vs. Eshallgo Class A | Procter Gamble vs. Amtech Systems | Procter Gamble vs. Gold Fields Ltd | Procter Gamble vs. Aegean Airlines SA |
| REGENCY vs. Texas Roadhouse | REGENCY vs. Dennys Corp | REGENCY vs. Tencent Music Entertainment | REGENCY vs. Biglari Holdings |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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