Correlation Between 25160PAE7 and Magnite
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By analyzing existing cross correlation between DEUTSCHE BK AG and Magnite, you can compare the effects of market volatilities on 25160PAE7 and Magnite 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 Magnite. Check out your portfolio center. Please also check ongoing floating volatility patterns of 25160PAE7 and Magnite.
Diversification Opportunities for 25160PAE7 and Magnite
Pay attention - limited upside
The 3 months correlation between 25160PAE7 and Magnite is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding DEUTSCHE BK AG and Magnite in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Magnite 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 Magnite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Magnite has no effect on the direction of 25160PAE7 i.e., 25160PAE7 and Magnite go up and down completely randomly.
Pair Corralation between 25160PAE7 and Magnite
Assuming the 90 days trading horizon DEUTSCHE BK AG is expected to under-perform the Magnite. But the bond apears to be less risky and, when comparing its historical volatility, DEUTSCHE BK AG is 4.44 times less risky than Magnite. The bond trades about -0.09 of its potential returns per unit of risk. The Magnite is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 1,662 in Magnite on September 28, 2024 and sell it today you would lose (20.00) from holding Magnite or give up 1.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 80.0% |
| Values | Daily Returns |
DEUTSCHE BK AG vs. Magnite
Performance |
| Timeline |
| DEUTSCHE BK AG |
| Magnite |
25160PAE7 and Magnite Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 25160PAE7 and Magnite
The main advantage of trading using opposite 25160PAE7 and Magnite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 25160PAE7 position performs unexpectedly, Magnite 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 Magnite will offset losses from the drop in Magnite's long position.| 25160PAE7 vs. Magnite | 25160PAE7 vs. FactSet Research Systems | 25160PAE7 vs. Infosys Ltd ADR | 25160PAE7 vs. Stagwell |
| Magnite vs. Deluxe | Magnite vs. Clear Channel Outdoor | Magnite vs. Entravision Communications | Magnite vs. Innovid Corp |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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