Correlation Between 26441CBH7 and 00108WAF7
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By analyzing existing cross correlation between DUKE ENERGY P and AEP TEX INC, you can compare the effects of market volatilities on 26441CBH7 and 00108WAF7 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 26441CBH7 with a short position of 00108WAF7. Check out your portfolio center. Please also check ongoing floating volatility patterns of 26441CBH7 and 00108WAF7.
Diversification Opportunities for 26441CBH7 and 00108WAF7
Pay attention - limited upside
The 3 months correlation between 26441CBH7 and 00108WAF7 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DUKE ENERGY P and AEP TEX INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEP TEX INC and 26441CBH7 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 DUKE ENERGY P are associated (or correlated) with 00108WAF7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEP TEX INC has no effect on the direction of 26441CBH7 i.e., 26441CBH7 and 00108WAF7 go up and down completely randomly.
Pair Corralation between 26441CBH7 and 00108WAF7
If you would invest 0.00 in DUKE ENERGY P on January 31, 2025 and sell it today you would earn a total of 0.00 from holding DUKE ENERGY P or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 6.67% |
| Values | Daily Returns |
DUKE ENERGY P vs. AEP TEX INC
Performance |
| Timeline |
| DUKE ENERGY P |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| AEP TEX INC |
26441CBH7 and 00108WAF7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 26441CBH7 and 00108WAF7
The main advantage of trading using opposite 26441CBH7 and 00108WAF7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 26441CBH7 position performs unexpectedly, 00108WAF7 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 00108WAF7 will offset losses from the drop in 00108WAF7's long position.| 26441CBH7 vs. Enzyme Environmental Solutions | 26441CBH7 vs. Tianjin Capital Environmental | 26441CBH7 vs. Nasdaq Inc | 26441CBH7 vs. FactSet Research Systems |
| 00108WAF7 vs. Konoike Transport CoLtd | 00108WAF7 vs. TFI International | 00108WAF7 vs. NanoTech Gaming | 00108WAF7 vs. Champion Gaming Group |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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