Correlation Between EXPEDIA and Aldel Financial
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By analyzing existing cross correlation between EXPEDIA GROUP INC and Aldel Financial II, you can compare the effects of market volatilities on EXPEDIA and Aldel Financial 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 EXPEDIA with a short position of Aldel Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of EXPEDIA and Aldel Financial.
Diversification Opportunities for EXPEDIA and Aldel Financial
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between EXPEDIA and Aldel is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding EXPEDIA GROUP INC and Aldel Financial II in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aldel Financial II and EXPEDIA 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 EXPEDIA GROUP INC are associated (or correlated) with Aldel Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aldel Financial II has no effect on the direction of EXPEDIA i.e., EXPEDIA and Aldel Financial go up and down completely randomly.
Pair Corralation between EXPEDIA and Aldel Financial
Assuming the 90 days trading horizon EXPEDIA GROUP INC is expected to under-perform the Aldel Financial. In addition to that, EXPEDIA is 4.39 times more volatile than Aldel Financial II. It trades about -0.1 of its total potential returns per unit of risk. Aldel Financial II is currently generating about 0.0 per unit of volatility. If you would invest 999.00 in Aldel Financial II on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Aldel Financial II or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 46.03% |
| Values | Daily Returns |
EXPEDIA GROUP INC vs. Aldel Financial II
Performance |
| Timeline |
| EXPEDIA GROUP INC |
| Aldel Financial II |
EXPEDIA and Aldel Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EXPEDIA and Aldel Financial
The main advantage of trading using opposite EXPEDIA and Aldel Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EXPEDIA position performs unexpectedly, Aldel Financial 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 Aldel Financial will offset losses from the drop in Aldel Financial's long position.| EXPEDIA vs. Aldel Financial II | EXPEDIA vs. The Gap, | EXPEDIA vs. Simon Property Group | EXPEDIA vs. Equinix |
| Aldel Financial vs. Distoken Acquisition | Aldel Financial vs. Voyager Acquisition Corp | Aldel Financial vs. dMY Squared Technology | Aldel Financial vs. YHN Acquisition I |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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