Correlation Between CREDIT and Jeld Wen
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By analyzing existing cross correlation between CREDIT SUISSE AG and Jeld Wen Holding, you can compare the effects of market volatilities on CREDIT and Jeld Wen 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 Jeld Wen. Check out your portfolio center. Please also check ongoing floating volatility patterns of CREDIT and Jeld Wen.
Diversification Opportunities for CREDIT and Jeld Wen
Excellent diversification
The 3 months correlation between CREDIT and Jeld is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding CREDIT SUISSE AG and Jeld Wen Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jeld Wen Holding 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 Jeld Wen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jeld Wen Holding has no effect on the direction of CREDIT i.e., CREDIT and Jeld Wen go up and down completely randomly.
Pair Corralation between CREDIT and Jeld Wen
Assuming the 90 days trading horizon CREDIT SUISSE AG is expected to generate 0.03 times more return on investment than Jeld Wen. However, CREDIT SUISSE AG is 36.49 times less risky than Jeld Wen. It trades about -0.19 of its potential returns per unit of risk. Jeld Wen Holding is currently generating about -0.38 per unit of risk. If you would invest 9,971 in CREDIT SUISSE AG on November 28, 2024 and sell it today you would lose (59.00) from holding CREDIT SUISSE AG or give up 0.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
CREDIT SUISSE AG vs. Jeld Wen Holding
Performance |
| Timeline |
| CREDIT SUISSE AG |
| Jeld Wen Holding |
CREDIT and Jeld Wen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CREDIT and Jeld Wen
The main advantage of trading using opposite CREDIT and Jeld Wen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CREDIT position performs unexpectedly, Jeld Wen 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 Jeld Wen will offset losses from the drop in Jeld Wen's long position.| CREDIT vs. Church Dwight | CREDIT vs. RBC Bearings Incorporated | CREDIT vs. Zijin Mining Group | CREDIT vs. Eastern Co |
| Jeld Wen vs. Gibraltar Industries | Jeld Wen vs. Quanex Building Products | Jeld Wen vs. Perma Pipe International Holdings | Jeld Wen vs. Interface |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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