Correlation Between 19123MAF0 and Air Lease
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By analyzing existing cross correlation between CCEP 15 15 JAN 27 and Air Lease, you can compare the effects of market volatilities on 19123MAF0 and Air Lease 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 19123MAF0 with a short position of Air Lease. Check out your portfolio center. Please also check ongoing floating volatility patterns of 19123MAF0 and Air Lease.
Diversification Opportunities for 19123MAF0 and Air Lease
Very weak diversification
The 3 months correlation between 19123MAF0 and Air is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding CCEP 15 15 JAN 27 and Air Lease in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Air Lease and 19123MAF0 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 CCEP 15 15 JAN 27 are associated (or correlated) with Air Lease. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Air Lease has no effect on the direction of 19123MAF0 i.e., 19123MAF0 and Air Lease go up and down completely randomly.
Pair Corralation between 19123MAF0 and Air Lease
Assuming the 90 days trading horizon 19123MAF0 is expected to generate 2.98 times less return on investment than Air Lease. But when comparing it to its historical volatility, CCEP 15 15 JAN 27 is 2.76 times less risky than Air Lease. It trades about 0.04 of its potential returns per unit of risk. Air Lease is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 3,736 in Air Lease on September 3, 2024 and sell it today you would earn a total of 1,354 from holding Air Lease or generate 36.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 25.25% |
| Values | Daily Returns |
CCEP 15 15 JAN 27 vs. Air Lease
Performance |
| Timeline |
| CCEP 15 15 |
| Air Lease |
19123MAF0 and Air Lease Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 19123MAF0 and Air Lease
The main advantage of trading using opposite 19123MAF0 and Air Lease positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 19123MAF0 position performs unexpectedly, Air Lease 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 Air Lease will offset losses from the drop in Air Lease's long position.| 19123MAF0 vs. Precision Drilling | 19123MAF0 vs. Ryanair Holdings PLC | 19123MAF0 vs. Alaska Air Group | 19123MAF0 vs. Pentair PLC |
| Air Lease vs. Alta Equipment Group | Air Lease vs. McGrath RentCorp | Air Lease vs. Herc Holdings | Air Lease vs. HE Equipment Services |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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