Correlation Between U Haul and GBLATL
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By analyzing existing cross correlation between U Haul Holding and GBLATL 1625 15 JAN 26, you can compare the effects of market volatilities on U Haul and GBLATL 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 U Haul with a short position of GBLATL. Check out your portfolio center. Please also check ongoing floating volatility patterns of U Haul and GBLATL.
Diversification Opportunities for U Haul and GBLATL
Very good diversification
The 3 months correlation between UHAL and GBLATL is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding U Haul Holding and GBLATL 1625 15 JAN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GBLATL 1625 15 and U Haul 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 U Haul Holding are associated (or correlated) with GBLATL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GBLATL 1625 15 has no effect on the direction of U Haul i.e., U Haul and GBLATL go up and down completely randomly.
Pair Corralation between U Haul and GBLATL
Given the investment horizon of 90 days U Haul Holding is expected to generate 1.47 times more return on investment than GBLATL. However, U Haul is 1.47 times more volatile than GBLATL 1625 15 JAN 26. It trades about 0.07 of its potential returns per unit of risk. GBLATL 1625 15 JAN 26 is currently generating about 0.05 per unit of risk. If you would invest 5,544 in U Haul Holding on September 14, 2024 and sell it today you would earn a total of 1,752 from holding U Haul Holding or generate 31.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 43.12% |
| Values | Daily Returns |
U Haul Holding vs. GBLATL 1625 15 JAN 26
Performance |
| Timeline |
| U Haul Holding |
| GBLATL 1625 15 |
U Haul and GBLATL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with U Haul and GBLATL
The main advantage of trading using opposite U Haul and GBLATL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if U Haul position performs unexpectedly, GBLATL 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 GBLATL will offset losses from the drop in GBLATL's long position.| U Haul vs. Air Lease | U Haul vs. HE Equipment Services | U Haul vs. GATX Corporation | U Haul vs. Custom Truck One |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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