Correlation Between ATT and CARLISLE
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By analyzing existing cross correlation between ATT Inc and CARLISLE INC 375, you can compare the effects of market volatilities on ATT and CARLISLE 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 ATT with a short position of CARLISLE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATT and CARLISLE.
Diversification Opportunities for ATT and CARLISLE
Average diversification
The 3 months correlation between ATT and CARLISLE is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and CARLISLE INC 375 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CARLISLE INC 375 and ATT 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 ATT Inc are associated (or correlated) with CARLISLE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CARLISLE INC 375 has no effect on the direction of ATT i.e., ATT and CARLISLE go up and down completely randomly.
Pair Corralation between ATT and CARLISLE
Taking into account the 90-day investment horizon ATT Inc is expected to generate 4.0 times more return on investment than CARLISLE. However, ATT is 4.0 times more volatile than CARLISLE INC 375. It trades about 0.03 of its potential returns per unit of risk. CARLISLE INC 375 is currently generating about 0.12 per unit of risk. If you would invest 2,655 in ATT Inc on January 14, 2025 and sell it today you would earn a total of 24.00 from holding ATT Inc or generate 0.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
ATT Inc vs. CARLISLE INC 375
Performance |
| Timeline |
| ATT Inc |
| CARLISLE INC 375 |
ATT and CARLISLE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATT and CARLISLE
The main advantage of trading using opposite ATT and CARLISLE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATT position performs unexpectedly, CARLISLE 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 CARLISLE will offset losses from the drop in CARLISLE's long position.| ATT vs. Liberty Broadband Srs | ATT vs. Cable One | ATT vs. Liberty Broadband Corp | ATT vs. Liberty Global PLC |
| CARLISLE vs. Cadence Design Systems | CARLISLE vs. Weibo Corp | CARLISLE vs. Bowhead Specialty Holdings | CARLISLE vs. Nasdaq Inc |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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