Correlation Between Travelers Companies and 285512AF6
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By analyzing existing cross correlation between The Travelers Companies and EA 295 15 FEB 51, you can compare the effects of market volatilities on Travelers Companies and 285512AF6 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 Travelers Companies with a short position of 285512AF6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Travelers Companies and 285512AF6.
Diversification Opportunities for Travelers Companies and 285512AF6
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Travelers and 285512AF6 is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding The Travelers Companies and EA 295 15 FEB 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EA 295 15 and Travelers Companies 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 The Travelers Companies are associated (or correlated) with 285512AF6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EA 295 15 has no effect on the direction of Travelers Companies i.e., Travelers Companies and 285512AF6 go up and down completely randomly.
Pair Corralation between Travelers Companies and 285512AF6
Considering the 90-day investment horizon The Travelers Companies is expected to generate 0.6 times more return on investment than 285512AF6. However, The Travelers Companies is 1.68 times less risky than 285512AF6. It trades about 0.09 of its potential returns per unit of risk. EA 295 15 FEB 51 is currently generating about 0.0 per unit of risk. If you would invest 17,036 in The Travelers Companies on September 4, 2024 and sell it today you would earn a total of 9,315 from holding The Travelers Companies or generate 54.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 81.77% |
| Values | Daily Returns |
The Travelers Companies vs. EA 295 15 FEB 51
Performance |
| Timeline |
| The Travelers Companies |
| EA 295 15 |
Travelers Companies and 285512AF6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Travelers Companies and 285512AF6
The main advantage of trading using opposite Travelers Companies and 285512AF6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Travelers Companies position performs unexpectedly, 285512AF6 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 285512AF6 will offset losses from the drop in 285512AF6's long position.| Travelers Companies vs. Progressive Corp | Travelers Companies vs. Cincinnati Financial | Travelers Companies vs. W R Berkley | Travelers Companies vs. The Allstate |
| 285512AF6 vs. AEP TEX INC | 285512AF6 vs. US BANK NATIONAL | 285512AF6 vs. MetLife | 285512AF6 vs. Brera Holdings PLC |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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