Correlation Between Raymond James and Solowin Holdings
Can any of the company-specific risk be diversified away by investing in both Raymond James and Solowin Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Raymond James and Solowin Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Raymond James Financial and Solowin Holdings Ordinary, you can compare the effects of market volatilities on Raymond James and Solowin Holdings 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 Raymond James with a short position of Solowin Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Raymond James and Solowin Holdings.
Diversification Opportunities for Raymond James and Solowin Holdings
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Raymond and Solowin is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Raymond James Financial and Solowin Holdings Ordinary in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Solowin Holdings Ordinary and Raymond James 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 Raymond James Financial are associated (or correlated) with Solowin Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Solowin Holdings Ordinary has no effect on the direction of Raymond James i.e., Raymond James and Solowin Holdings go up and down completely randomly.
Pair Corralation between Raymond James and Solowin Holdings
Assuming the 90 days trading horizon Raymond James Financial is expected to generate 0.03 times more return on investment than Solowin Holdings. However, Raymond James Financial is 39.71 times less risky than Solowin Holdings. It trades about 0.35 of its potential returns per unit of risk. Solowin Holdings Ordinary is currently generating about -0.06 per unit of risk. If you would invest 2,519 in Raymond James Financial on September 13, 2024 and sell it today you would earn a total of 19.00 from holding Raymond James Financial or generate 0.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Raymond James Financial vs. Solowin Holdings Ordinary
Performance |
| Timeline |
| Raymond James Financial |
| Solowin Holdings Ordinary |
Raymond James and Solowin Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Raymond James and Solowin Holdings
The main advantage of trading using opposite Raymond James and Solowin Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Raymond James position performs unexpectedly, Solowin Holdings 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 Solowin Holdings will offset losses from the drop in Solowin Holdings' long position.| Raymond James vs. Washington Federal | Raymond James vs. Truist Financial | Raymond James vs. The Charles Schwab | Raymond James vs. Associated Banc Corp |
| Solowin Holdings vs. Franklin Universal Closed | Solowin Holdings vs. Embrace Change Acquisition | Solowin Holdings vs. BlackRock Energy and | Solowin Holdings vs. BlackRock Core Bond |
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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |