Correlation Between EXELON and Gladstone Investment
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By analyzing existing cross correlation between EXELON PORATION and Gladstone Investment, you can compare the effects of market volatilities on EXELON and Gladstone Investment 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 Gladstone Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of EXELON and Gladstone Investment.
Diversification Opportunities for EXELON and Gladstone Investment
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between EXELON and Gladstone is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding EXELON PORATION and Gladstone Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gladstone Investment 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 PORATION are associated (or correlated) with Gladstone Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gladstone Investment has no effect on the direction of EXELON i.e., EXELON and Gladstone Investment go up and down completely randomly.
Pair Corralation between EXELON and Gladstone Investment
Assuming the 90 days trading horizon EXELON is expected to generate 48.43 times less return on investment than Gladstone Investment. In addition to that, EXELON is 1.11 times more volatile than Gladstone Investment. It trades about 0.0 of its total potential returns per unit of risk. Gladstone Investment is currently generating about 0.08 per unit of volatility. If you would invest 2,264 in Gladstone Investment on November 4, 2024 and sell it today you would earn a total of 192.00 from holding Gladstone Investment or generate 8.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.6% |
| Values | Daily Returns |
EXELON PORATION vs. Gladstone Investment
Performance |
| Timeline |
| EXELON PORATION |
| Gladstone Investment |
EXELON and Gladstone Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EXELON and Gladstone Investment
The main advantage of trading using opposite EXELON and Gladstone Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EXELON position performs unexpectedly, Gladstone Investment 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 Gladstone Investment will offset losses from the drop in Gladstone Investment's long position.| EXELON vs. Playstudios | EXELON vs. SohuCom | EXELON vs. Silicon Gaming | EXELON vs. Lincoln Electric Holdings |
| Gladstone Investment vs. Newtek Business Services | Gladstone Investment vs. Oxford Lane Capital | Gladstone Investment vs. Gladstone Investment | Gladstone Investment vs. Gladstone Commercial 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 CEOs Directory module to screen CEOs from public companies around the world.
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