Correlation Between Suburban Propane and Match
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By analyzing existing cross correlation between Suburban Propane Partners and Match Group 4125, you can compare the effects of market volatilities on Suburban Propane and Match 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 Suburban Propane with a short position of Match. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suburban Propane and Match.
Diversification Opportunities for Suburban Propane and Match
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Suburban and Match is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Suburban Propane Partners and Match Group 4125 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Match Group 4125 and Suburban Propane 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 Suburban Propane Partners are associated (or correlated) with Match. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Match Group 4125 has no effect on the direction of Suburban Propane i.e., Suburban Propane and Match go up and down completely randomly.
Pair Corralation between Suburban Propane and Match
Considering the 90-day investment horizon Suburban Propane is expected to generate 47.86 times less return on investment than Match. But when comparing it to its historical volatility, Suburban Propane Partners is 39.62 times less risky than Match. It trades about 0.05 of its potential returns per unit of risk. Match Group 4125 is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 8,555 in Match Group 4125 on September 3, 2024 and sell it today you would earn a total of 279.00 from holding Match Group 4125 or generate 3.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 88.08% |
| Values | Daily Returns |
Suburban Propane Partners vs. Match Group 4125
Performance |
| Timeline |
| Suburban Propane Partners |
| Match Group 4125 |
Suburban Propane and Match Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suburban Propane and Match
The main advantage of trading using opposite Suburban Propane and Match positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suburban Propane position performs unexpectedly, Match 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 Match will offset losses from the drop in Match's long position.| Suburban Propane vs. Northwest Natural Gas | Suburban Propane vs. NewJersey Resources | Suburban Propane vs. Atmos Energy | Suburban Propane vs. Chesapeake Utilities |
| Match vs. Yuexiu Transport Infrastructure | Match vs. PGE Corp | Match vs. Suburban Propane Partners | Match vs. Cheniere Energy Partners |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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