Correlation Between CREDIT and Comstock Holding
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By analyzing existing cross correlation between CREDIT SUISSE AG and Comstock Holding Companies, you can compare the effects of market volatilities on CREDIT and Comstock Holding 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 Comstock Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of CREDIT and Comstock Holding.
Diversification Opportunities for CREDIT and Comstock Holding
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CREDIT and Comstock is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding CREDIT SUISSE AG and Comstock Holding Companies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Comstock Holding Com 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 Comstock Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Comstock Holding Com has no effect on the direction of CREDIT i.e., CREDIT and Comstock Holding go up and down completely randomly.
Pair Corralation between CREDIT and Comstock Holding
Assuming the 90 days trading horizon CREDIT SUISSE AG is expected to generate 0.03 times more return on investment than Comstock Holding. However, CREDIT SUISSE AG is 35.91 times less risky than Comstock Holding. It trades about 0.14 of its potential returns per unit of risk. Comstock Holding Companies is currently generating about -0.29 per unit of risk. If you would invest 9,443 in CREDIT SUISSE AG on September 4, 2024 and sell it today you would earn a total of 27.00 from holding CREDIT SUISSE AG or generate 0.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 80.95% |
| Values | Daily Returns |
CREDIT SUISSE AG vs. Comstock Holding Companies
Performance |
| Timeline |
| CREDIT SUISSE AG |
| Comstock Holding Com |
CREDIT and Comstock Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CREDIT and Comstock Holding
The main advantage of trading using opposite CREDIT and Comstock Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CREDIT position performs unexpectedly, Comstock Holding 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 Comstock Holding will offset losses from the drop in Comstock Holding's long position.| CREDIT vs. Comstock Holding Companies | CREDIT vs. PennantPark Investment | CREDIT vs. CVW CleanTech | CREDIT vs. Ultra Clean Holdings |
| Comstock Holding vs. St Joe Company | Comstock Holding vs. Stratus Properties | Comstock Holding vs. Mitsui Fudosan Co | Comstock Holding vs. New World Development |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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