Correlation Between EXELON and QuickLogic
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By analyzing existing cross correlation between EXELON GENERATION LLC and QuickLogic, you can compare the effects of market volatilities on EXELON and QuickLogic 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 EXELON with a short position of QuickLogic. Check out your portfolio center. Please also check ongoing floating volatility patterns of EXELON and QuickLogic.
Diversification Opportunities for EXELON and QuickLogic
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between EXELON and QuickLogic is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding EXELON GENERATION LLC and QuickLogic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QuickLogic and EXELON 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 EXELON GENERATION LLC are associated (or correlated) with QuickLogic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QuickLogic has no effect on the direction of EXELON i.e., EXELON and QuickLogic go up and down completely randomly.
Pair Corralation between EXELON and QuickLogic
Assuming the 90 days trading horizon EXELON GENERATION LLC is expected to generate 0.19 times more return on investment than QuickLogic. However, EXELON GENERATION LLC is 5.23 times less risky than QuickLogic. It trades about 0.2 of its potential returns per unit of risk. QuickLogic is currently generating about 0.04 per unit of risk. If you would invest 9,835 in EXELON GENERATION LLC on September 2, 2024 and sell it today you would earn a total of 304.00 from holding EXELON GENERATION LLC or generate 3.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
EXELON GENERATION LLC vs. QuickLogic
Performance |
| Timeline |
| EXELON GENERATION LLC |
| QuickLogic |
EXELON and QuickLogic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EXELON and QuickLogic
The main advantage of trading using opposite EXELON and QuickLogic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EXELON position performs unexpectedly, QuickLogic 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 QuickLogic will offset losses from the drop in QuickLogic's long position.| EXELON vs. Catalent | EXELON vs. Amgen Inc | EXELON vs. Avadel Pharmaceuticals PLC | EXELON vs. The Joint Corp |
| QuickLogic vs. Pixelworks | QuickLogic vs. AXT Inc | QuickLogic vs. Power Integrations | QuickLogic vs. Lattice Semiconductor |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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