Correlation Between 254687DF0 and Katahdin Bankshares
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By analyzing existing cross correlation between DIS 77 30 OCT 25 and Katahdin Bankshares Corp, you can compare the effects of market volatilities on 254687DF0 and Katahdin Bankshares 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 254687DF0 with a short position of Katahdin Bankshares. Check out your portfolio center. Please also check ongoing floating volatility patterns of 254687DF0 and Katahdin Bankshares.
Diversification Opportunities for 254687DF0 and Katahdin Bankshares
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 254687DF0 and Katahdin is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding DIS 77 30 OCT 25 and Katahdin Bankshares Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Katahdin Bankshares Corp and 254687DF0 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 DIS 77 30 OCT 25 are associated (or correlated) with Katahdin Bankshares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Katahdin Bankshares Corp has no effect on the direction of 254687DF0 i.e., 254687DF0 and Katahdin Bankshares go up and down completely randomly.
Pair Corralation between 254687DF0 and Katahdin Bankshares
Assuming the 90 days trading horizon DIS 77 30 OCT 25 is expected to under-perform the Katahdin Bankshares. But the bond apears to be less risky and, when comparing its historical volatility, DIS 77 30 OCT 25 is 3.51 times less risky than Katahdin Bankshares. The bond trades about -0.01 of its potential returns per unit of risk. The Katahdin Bankshares Corp is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 2,073 in Katahdin Bankshares Corp on November 2, 2024 and sell it today you would earn a total of 322.00 from holding Katahdin Bankshares Corp or generate 15.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 91.34% |
| Values | Daily Returns |
DIS 77 30 OCT 25 vs. Katahdin Bankshares Corp
Performance |
| Timeline |
| DIS 77 30 |
| Katahdin Bankshares Corp |
254687DF0 and Katahdin Bankshares Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 254687DF0 and Katahdin Bankshares
The main advantage of trading using opposite 254687DF0 and Katahdin Bankshares positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 254687DF0 position performs unexpectedly, Katahdin Bankshares 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 Katahdin Bankshares will offset losses from the drop in Katahdin Bankshares' long position.| 254687DF0 vs. Alvotech | 254687DF0 vs. Regeneron Pharmaceuticals | 254687DF0 vs. Ecovyst | 254687DF0 vs. Braskem SA Class |
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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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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