Correlation Between 26442CBH6 and Dow Jones
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By analyzing existing cross correlation between DUK 355 15 MAR 52 and Dow Jones Industrial, you can compare the effects of market volatilities on 26442CBH6 and Dow Jones 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 26442CBH6 with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of 26442CBH6 and Dow Jones.
Diversification Opportunities for 26442CBH6 and Dow Jones
Very good diversification
The 3 months correlation between 26442CBH6 and Dow is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding DUK 355 15 MAR 52 and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and 26442CBH6 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 DUK 355 15 MAR 52 are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of 26442CBH6 i.e., 26442CBH6 and Dow Jones go up and down completely randomly.
Pair Corralation between 26442CBH6 and Dow Jones
Assuming the 90 days trading horizon DUK 355 15 MAR 52 is expected to under-perform the Dow Jones. In addition to that, 26442CBH6 is 2.28 times more volatile than Dow Jones Industrial. It trades about -0.14 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.27 per unit of volatility. If you would invest 4,223,305 in Dow Jones Industrial on August 30, 2024 and sell it today you would earn a total of 248,901 from holding Dow Jones Industrial or generate 5.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 73.91% |
| Values | Daily Returns |
DUK 355 15 MAR 52 vs. Dow Jones Industrial
Performance |
| Timeline |
26442CBH6 and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
DUK 355 15 MAR 52
Pair trading matchups for 26442CBH6
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with 26442CBH6 and Dow Jones
The main advantage of trading using opposite 26442CBH6 and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 26442CBH6 position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| 26442CBH6 vs. Monster Beverage Corp | 26442CBH6 vs. Boston Beer | 26442CBH6 vs. National Beverage Corp | 26442CBH6 vs. Fomento Economico Mexicano |
| Dow Jones vs. Skillful Craftsman Education | Dow Jones vs. Acco Brands | Dow Jones vs. Cracker Barrel Old | Dow Jones vs. Coursera |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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