Correlation Between SILAMX and ATT
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By analyzing existing cross correlation between SILAMX 5375 04 APR 32 and ATT Inc, you can compare the effects of market volatilities on SILAMX and ATT 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 SILAMX with a short position of ATT. Check out your portfolio center. Please also check ongoing floating volatility patterns of SILAMX and ATT.
Diversification Opportunities for SILAMX and ATT
Very good diversification
The 3 months correlation between SILAMX and ATT is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding SILAMX 5375 04 APR 32 and ATT Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATT Inc and SILAMX 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 SILAMX 5375 04 APR 32 are associated (or correlated) with ATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT Inc has no effect on the direction of SILAMX i.e., SILAMX and ATT go up and down completely randomly.
Pair Corralation between SILAMX and ATT
Assuming the 90 days trading horizon SILAMX 5375 04 APR 32 is expected to under-perform the ATT. But the bond apears to be less risky and, when comparing its historical volatility, SILAMX 5375 04 APR 32 is 1.12 times less risky than ATT. The bond trades about -0.24 of its potential returns per unit of risk. The ATT Inc is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 2,212 in ATT Inc on September 2, 2024 and sell it today you would earn a total of 104.00 from holding ATT Inc or generate 4.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 85.71% |
| Values | Daily Returns |
SILAMX 5375 04 APR 32 vs. ATT Inc
Performance |
| Timeline |
| SILAMX 5375 04 |
| ATT Inc |
SILAMX and ATT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SILAMX and ATT
The main advantage of trading using opposite SILAMX and ATT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SILAMX position performs unexpectedly, ATT 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 ATT will offset losses from the drop in ATT's long position.| SILAMX vs. National Vision Holdings | SILAMX vs. Getty Realty | SILAMX vs. Daily Journal Corp | SILAMX vs. Lululemon Athletica |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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