Correlation Between SHUAA Partners and Dine Brands
Can any of the company-specific risk be diversified away by investing in both SHUAA Partners and Dine Brands 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 SHUAA Partners and Dine Brands into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SHUAA Partners Acquisition and Dine Brands Global, you can compare the effects of market volatilities on SHUAA Partners and Dine Brands 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 SHUAA Partners with a short position of Dine Brands. Check out your portfolio center. Please also check ongoing floating volatility patterns of SHUAA Partners and Dine Brands.
Diversification Opportunities for SHUAA Partners and Dine Brands
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between SHUAA and Dine is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding SHUAA Partners Acquisition and Dine Brands Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dine Brands Global and SHUAA Partners 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 SHUAA Partners Acquisition are associated (or correlated) with Dine Brands. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dine Brands Global has no effect on the direction of SHUAA Partners i.e., SHUAA Partners and Dine Brands go up and down completely randomly.
Pair Corralation between SHUAA Partners and Dine Brands
If you would invest 2,970 in Dine Brands Global on September 3, 2024 and sell it today you would earn a total of 622.00 from holding Dine Brands Global or generate 20.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
SHUAA Partners Acquisition vs. Dine Brands Global
Performance |
| Timeline |
| SHUAA Partners Acqui |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Dine Brands Global |
SHUAA Partners and Dine Brands Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SHUAA Partners and Dine Brands
The main advantage of trading using opposite SHUAA Partners and Dine Brands positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SHUAA Partners position performs unexpectedly, Dine Brands 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 Dine Brands will offset losses from the drop in Dine Brands' long position.| SHUAA Partners vs. Dine Brands Global | SHUAA Partners vs. Ryman Hospitality Properties | SHUAA Partners vs. The Wendys Co | SHUAA Partners vs. Sweetgreen |
| Dine Brands vs. Bloomin Brands | Dine Brands vs. BJs Restaurants | Dine Brands vs. The Cheesecake Factory | Dine Brands vs. Brinker International |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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