Correlation Between 25160PAE7 and Funko
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By analyzing existing cross correlation between DEUTSCHE BK AG and Funko Inc, you can compare the effects of market volatilities on 25160PAE7 and Funko 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 25160PAE7 with a short position of Funko. Check out your portfolio center. Please also check ongoing floating volatility patterns of 25160PAE7 and Funko.
Diversification Opportunities for 25160PAE7 and Funko
Very good diversification
The 3 months correlation between 25160PAE7 and Funko is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding DEUTSCHE BK AG and Funko Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Funko Inc and 25160PAE7 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 DEUTSCHE BK AG are associated (or correlated) with Funko. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Funko Inc has no effect on the direction of 25160PAE7 i.e., 25160PAE7 and Funko go up and down completely randomly.
Pair Corralation between 25160PAE7 and Funko
Assuming the 90 days trading horizon DEUTSCHE BK AG is expected to under-perform the Funko. But the bond apears to be less risky and, when comparing its historical volatility, DEUTSCHE BK AG is 4.1 times less risky than Funko. The bond trades about -0.16 of its potential returns per unit of risk. The Funko Inc is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 1,175 in Funko Inc on October 30, 2024 and sell it today you would earn a total of 170.00 from holding Funko Inc or generate 14.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 65.79% |
| Values | Daily Returns |
DEUTSCHE BK AG vs. Funko Inc
Performance |
| Timeline |
| DEUTSCHE BK AG |
| Funko Inc |
25160PAE7 and Funko Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 25160PAE7 and Funko
The main advantage of trading using opposite 25160PAE7 and Funko positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 25160PAE7 position performs unexpectedly, Funko 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 Funko will offset losses from the drop in Funko's long position.| 25160PAE7 vs. AEP TEX INC | 25160PAE7 vs. US BANK NATIONAL | 25160PAE7 vs. BlackRock | 25160PAE7 vs. Ulta Beauty |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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