Correlation Between 049560AY1 and Delek Logistics
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By analyzing existing cross correlation between ATO 575 15 OCT 52 and Delek Logistics Partners, you can compare the effects of market volatilities on 049560AY1 and Delek Logistics 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 049560AY1 with a short position of Delek Logistics. Check out your portfolio center. Please also check ongoing floating volatility patterns of 049560AY1 and Delek Logistics.
Diversification Opportunities for 049560AY1 and Delek Logistics
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 049560AY1 and Delek is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding ATO 575 15 OCT 52 and Delek Logistics Partners in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delek Logistics Partners and 049560AY1 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 ATO 575 15 OCT 52 are associated (or correlated) with Delek Logistics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delek Logistics Partners has no effect on the direction of 049560AY1 i.e., 049560AY1 and Delek Logistics go up and down completely randomly.
Pair Corralation between 049560AY1 and Delek Logistics
Assuming the 90 days trading horizon 049560AY1 is expected to generate 1.46 times less return on investment than Delek Logistics. In addition to that, 049560AY1 is 1.15 times more volatile than Delek Logistics Partners. It trades about 0.01 of its total potential returns per unit of risk. Delek Logistics Partners is currently generating about 0.01 per unit of volatility. If you would invest 3,724 in Delek Logistics Partners on September 12, 2024 and sell it today you would earn a total of 157.00 from holding Delek Logistics Partners or generate 4.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 68.89% |
| Values | Daily Returns |
ATO 575 15 OCT 52 vs. Delek Logistics Partners
Performance |
| Timeline |
| ATO 575 15 |
| Delek Logistics Partners |
049560AY1 and Delek Logistics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 049560AY1 and Delek Logistics
The main advantage of trading using opposite 049560AY1 and Delek Logistics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 049560AY1 position performs unexpectedly, Delek Logistics 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 Delek Logistics will offset losses from the drop in Delek Logistics' long position.| 049560AY1 vs. Delek Logistics Partners | 049560AY1 vs. Q2 Holdings | 049560AY1 vs. Saia Inc | 049560AY1 vs. Ihuman Inc |
| Delek Logistics vs. CVR Energy | Delek Logistics vs. PBF Energy | Delek Logistics vs. HF Sinclair Corp | Delek Logistics vs. Par Pacific Holdings |
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 CEOs Directory module to screen CEOs from public companies around the world.
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