Correlation Between BARCLAYS and National Vision
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By analyzing existing cross correlation between BARCLAYS PLC and National Vision Holdings, you can compare the effects of market volatilities on BARCLAYS and National Vision 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 BARCLAYS with a short position of National Vision. Check out your portfolio center. Please also check ongoing floating volatility patterns of BARCLAYS and National Vision.
Diversification Opportunities for BARCLAYS and National Vision
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between BARCLAYS and National is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding BARCLAYS PLC and National Vision Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on National Vision Holdings and BARCLAYS 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 BARCLAYS PLC are associated (or correlated) with National Vision. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of National Vision Holdings has no effect on the direction of BARCLAYS i.e., BARCLAYS and National Vision go up and down completely randomly.
Pair Corralation between BARCLAYS and National Vision
Assuming the 90 days trading horizon BARCLAYS PLC is expected to generate 29.84 times more return on investment than National Vision. However, BARCLAYS is 29.84 times more volatile than National Vision Holdings. It trades about 0.09 of its potential returns per unit of risk. National Vision Holdings is currently generating about -0.05 per unit of risk. If you would invest 8,111 in BARCLAYS PLC on October 7, 2024 and sell it today you would earn a total of 392.00 from holding BARCLAYS PLC or generate 4.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 73.19% |
| Values | Daily Returns |
BARCLAYS PLC vs. National Vision Holdings
Performance |
| Timeline |
| BARCLAYS PLC |
| National Vision Holdings |
BARCLAYS and National Vision Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BARCLAYS and National Vision
The main advantage of trading using opposite BARCLAYS and National Vision positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BARCLAYS position performs unexpectedly, National Vision 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 National Vision will offset losses from the drop in National Vision's long position.| BARCLAYS vs. AEP TEX INC | BARCLAYS vs. US BANK NATIONAL | BARCLAYS vs. TARGET P 7 | BARCLAYS vs. Aethlon Medical |
| National Vision vs. Sally Beauty Holdings | National Vision vs. MarineMax | National Vision vs. Sportsmans | National Vision vs. 1 800 FLOWERSCOM |
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 Stocks Directory module to find actively traded stocks across global markets.
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