Correlation Between CREDIT and Griffon
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By analyzing existing cross correlation between CREDIT SUISSE AG and Griffon, you can compare the effects of market volatilities on CREDIT and Griffon 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 Griffon. Check out your portfolio center. Please also check ongoing floating volatility patterns of CREDIT and Griffon.
Diversification Opportunities for CREDIT and Griffon
Pay attention - limited upside
The 3 months correlation between CREDIT and Griffon is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CREDIT SUISSE AG and Griffon in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Griffon 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 Griffon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Griffon has no effect on the direction of CREDIT i.e., CREDIT and Griffon go up and down completely randomly.
Pair Corralation between CREDIT and Griffon
If you would invest 6,857 in Griffon on September 12, 2024 and sell it today you would earn a total of 1,150 from holding Griffon or generate 16.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 2.44% |
| Values | Daily Returns |
CREDIT SUISSE AG vs. Griffon
Performance |
| Timeline |
| CREDIT SUISSE AG |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Griffon |
CREDIT and Griffon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CREDIT and Griffon
The main advantage of trading using opposite CREDIT and Griffon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CREDIT position performs unexpectedly, Griffon 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 Griffon will offset losses from the drop in Griffon's long position.| CREDIT vs. BOS Better Online | CREDIT vs. WiMi Hologram Cloud | CREDIT vs. Stagwell | CREDIT vs. GE Vernova LLC |
| Griffon vs. Steel Partners Holdings | Griffon vs. Brookfield Business Partners | Griffon vs. Tejon Ranch Co | Griffon vs. Compass Diversified 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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