Correlation Between Rush Street and AMEREN
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By analyzing existing cross correlation between Rush Street Interactive and AMEREN P 365, you can compare the effects of market volatilities on Rush Street and AMEREN 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 Rush Street with a short position of AMEREN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rush Street and AMEREN.
Diversification Opportunities for Rush Street and AMEREN
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Rush and AMEREN is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Rush Street Interactive and AMEREN P 365 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMEREN P 365 and Rush Street 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 Rush Street Interactive are associated (or correlated) with AMEREN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMEREN P 365 has no effect on the direction of Rush Street i.e., Rush Street and AMEREN go up and down completely randomly.
Pair Corralation between Rush Street and AMEREN
Considering the 90-day investment horizon Rush Street Interactive is expected to generate 7.07 times more return on investment than AMEREN. However, Rush Street is 7.07 times more volatile than AMEREN P 365. It trades about 0.09 of its potential returns per unit of risk. AMEREN P 365 is currently generating about 0.0 per unit of risk. If you would invest 364.00 in Rush Street Interactive on August 24, 2024 and sell it today you would earn a total of 984.00 from holding Rush Street Interactive or generate 270.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 52.02% |
| Values | Daily Returns |
Rush Street Interactive vs. AMEREN P 365
Performance |
| Timeline |
| Rush Street Interactive |
| AMEREN P 365 |
Rush Street and AMEREN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rush Street and AMEREN
The main advantage of trading using opposite Rush Street and AMEREN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rush Street position performs unexpectedly, AMEREN 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 AMEREN will offset losses from the drop in AMEREN's long position.| Rush Street vs. Genius Sports | Rush Street vs. Gan | Rush Street vs. Ballys Corp | Rush Street vs. Hims Hers Health |
| AMEREN vs. Patterson UTI Energy | AMEREN vs. Kinetik Holdings | AMEREN vs. Delek Drilling | AMEREN vs. Transocean |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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