Correlation Between ATT and SANDS
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By analyzing existing cross correlation between ATT Inc and SANDS CHINA LTD, you can compare the effects of market volatilities on ATT and SANDS 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 SANDS. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATT and SANDS.
Diversification Opportunities for ATT and SANDS
Modest diversification
The 3 months correlation between ATT and SANDS is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and SANDS CHINA LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SANDS CHINA LTD 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 SANDS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SANDS CHINA LTD has no effect on the direction of ATT i.e., ATT and SANDS go up and down completely randomly.
Pair Corralation between ATT and SANDS
Taking into account the 90-day investment horizon ATT Inc is expected to generate 3.02 times more return on investment than SANDS. However, ATT is 3.02 times more volatile than SANDS CHINA LTD. It trades about 0.07 of its potential returns per unit of risk. SANDS CHINA LTD is currently generating about 0.01 per unit of risk. If you would invest 1,671 in ATT Inc on November 19, 2024 and sell it today you would earn a total of 916.00 from holding ATT Inc or generate 54.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 92.53% |
| Values | Daily Returns |
ATT Inc vs. SANDS CHINA LTD
Performance |
| Timeline |
| ATT Inc |
| SANDS CHINA LTD |
ATT and SANDS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATT and SANDS
The main advantage of trading using opposite ATT and SANDS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATT position performs unexpectedly, SANDS 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 SANDS will offset losses from the drop in SANDS's long position.| ATT vs. Liberty Global PLC | ATT vs. Liberty Latin America | ATT vs. Liberty Latin America | ATT vs. Liberty Broadband Srs |
| SANDS vs. CF Industries Holdings | SANDS vs. Ihuman Inc | SANDS vs. Eastman Chemical | SANDS vs. Mesa Air Group |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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