Correlation Between Altice and Dow Jones
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By analyzing existing cross correlation between Altice France 6 and Dow Jones Industrial, you can compare the effects of market volatilities on Altice and Dow Jones 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 Altice with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Altice and Dow Jones.
Diversification Opportunities for Altice and Dow Jones
Very weak diversification
The 3 months correlation between Altice and Dow is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Altice France 6 and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and Altice 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 Altice France 6 are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Altice i.e., Altice and Dow Jones go up and down completely randomly.
Pair Corralation between Altice and Dow Jones
Assuming the 90 days trading horizon Altice France 6 is expected to generate 23.98 times more return on investment than Dow Jones. However, Altice is 23.98 times more volatile than Dow Jones Industrial. It trades about 0.07 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.13 per unit of risk. If you would invest 4,006 in Altice France 6 on September 2, 2024 and sell it today you would earn a total of 1,313 from holding Altice France 6 or generate 32.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 74.6% |
| Values | Daily Returns |
Altice France 6 vs. Dow Jones Industrial
Performance |
| Timeline |
Altice and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Altice France 6
Pair trading matchups for Altice
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Altice and Dow Jones
The main advantage of trading using opposite Altice and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Altice position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Altice vs. CVW CleanTech | Altice vs. Ecoloclean Industrs | Altice vs. American Airlines Group | Altice vs. China Clean Energy |
| Dow Jones vs. Dream Finders Homes | Dow Jones vs. GEN Restaurant Group, | Dow Jones vs. National Beverage Corp | Dow Jones vs. BJs Restaurants |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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