Correlation Between CREDIT and Figs
Specify exactly 2 symbols:
By analyzing existing cross correlation between CREDIT SUISSE AG and Figs Inc, you can compare the effects of market volatilities on CREDIT and Figs 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 CREDIT with a short position of Figs. Check out your portfolio center. Please also check ongoing floating volatility patterns of CREDIT and Figs.
Diversification Opportunities for CREDIT and Figs
Very good diversification
The 3 months correlation between CREDIT and Figs is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding CREDIT SUISSE AG and Figs Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Figs Inc and CREDIT 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 CREDIT SUISSE AG are associated (or correlated) with Figs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Figs Inc has no effect on the direction of CREDIT i.e., CREDIT and Figs go up and down completely randomly.
Pair Corralation between CREDIT and Figs
Assuming the 90 days trading horizon CREDIT SUISSE AG is expected to generate 0.01 times more return on investment than Figs. However, CREDIT SUISSE AG is 125.43 times less risky than Figs. It trades about 0.18 of its potential returns per unit of risk. Figs Inc is currently generating about -0.05 per unit of risk. If you would invest 9,923 in CREDIT SUISSE AG on September 4, 2024 and sell it today you would earn a total of 16.00 from holding CREDIT SUISSE AG or generate 0.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 76.19% |
| Values | Daily Returns |
CREDIT SUISSE AG vs. Figs Inc
Performance |
| Timeline |
| CREDIT SUISSE AG |
| Figs Inc |
CREDIT and Figs Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CREDIT and Figs
The main advantage of trading using opposite CREDIT and Figs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CREDIT position performs unexpectedly, Figs 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 Figs will offset losses from the drop in Figs' long position.| CREDIT vs. Highway Holdings Limited | CREDIT vs. Boot Barn Holdings | CREDIT vs. Ross Stores | CREDIT vs. Western Acquisition Ventures |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |