Correlation Between ATMOS and Franklin Credit
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By analyzing existing cross correlation between ATMOS ENERGY P and Franklin Credit Management, you can compare the effects of market volatilities on ATMOS and Franklin Credit 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 ATMOS with a short position of Franklin Credit. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATMOS and Franklin Credit.
Diversification Opportunities for ATMOS and Franklin Credit
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ATMOS and Franklin is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding ATMOS ENERGY P and Franklin Credit Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Franklin Credit Mana and ATMOS 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 ATMOS ENERGY P are associated (or correlated) with Franklin Credit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Franklin Credit Mana has no effect on the direction of ATMOS i.e., ATMOS and Franklin Credit go up and down completely randomly.
Pair Corralation between ATMOS and Franklin Credit
Assuming the 90 days trading horizon ATMOS ENERGY P is expected to generate 0.15 times more return on investment than Franklin Credit. However, ATMOS ENERGY P is 6.64 times less risky than Franklin Credit. It trades about 0.24 of its potential returns per unit of risk. Franklin Credit Management is currently generating about -0.11 per unit of risk. If you would invest 8,301 in ATMOS ENERGY P on September 2, 2024 and sell it today you would earn a total of 314.00 from holding ATMOS ENERGY P or generate 3.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
ATMOS ENERGY P vs. Franklin Credit Management
Performance |
| Timeline |
| ATMOS ENERGY P |
| Franklin Credit Mana |
ATMOS and Franklin Credit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATMOS and Franklin Credit
The main advantage of trading using opposite ATMOS and Franklin Credit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATMOS position performs unexpectedly, Franklin Credit 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 Franklin Credit will offset losses from the drop in Franklin Credit's long position.| ATMOS vs. AEP TEX INC | ATMOS vs. US BANK NATIONAL | ATMOS vs. International Business Machines | ATMOS vs. Intel |
| Franklin Credit vs. Global Healthcare REIT | Franklin Credit vs. Freedom Bank of | Franklin Credit vs. Hinto Energy | Franklin Credit vs. Ensurge |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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