Correlation Between ATT and 86787GAJ1
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By analyzing existing cross correlation between ATT Inc and SUNTRUST BK ATLANTA, you can compare the effects of market volatilities on ATT and 86787GAJ1 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 86787GAJ1. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATT and 86787GAJ1.
Diversification Opportunities for ATT and 86787GAJ1
Excellent diversification
The 3 months correlation between ATT and 86787GAJ1 is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and SUNTRUST BK ATLANTA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUNTRUST BK ATLANTA 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 86787GAJ1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUNTRUST BK ATLANTA has no effect on the direction of ATT i.e., ATT and 86787GAJ1 go up and down completely randomly.
Pair Corralation between ATT and 86787GAJ1
Taking into account the 90-day investment horizon ATT Inc is expected to generate 4.79 times more return on investment than 86787GAJ1. However, ATT is 4.79 times more volatile than SUNTRUST BK ATLANTA. It trades about 0.2 of its potential returns per unit of risk. SUNTRUST BK ATLANTA is currently generating about -0.01 per unit of risk. If you would invest 1,716 in ATT Inc on September 12, 2024 and sell it today you would earn a total of 635.00 from holding ATT Inc or generate 37.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 96.8% |
| Values | Daily Returns |
ATT Inc vs. SUNTRUST BK ATLANTA
Performance |
| Timeline |
| ATT Inc |
| SUNTRUST BK ATLANTA |
ATT and 86787GAJ1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATT and 86787GAJ1
The main advantage of trading using opposite ATT and 86787GAJ1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATT position performs unexpectedly, 86787GAJ1 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 86787GAJ1 will offset losses from the drop in 86787GAJ1's long position.| ATT vs. Victory Integrity Smallmid Cap | ATT vs. Hilton Worldwide Holdings | ATT vs. NVIDIA | ATT vs. JPMorgan Chase Co |
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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