Correlation Between 36168QAK0 and Dine Brands
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By analyzing existing cross correlation between GFL ENVIRONMENTAL INC and Dine Brands Global, you can compare the effects of market volatilities on 36168QAK0 and Dine Brands 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 36168QAK0 with a short position of Dine Brands. Check out your portfolio center. Please also check ongoing floating volatility patterns of 36168QAK0 and Dine Brands.
Diversification Opportunities for 36168QAK0 and Dine Brands
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 36168QAK0 and Dine is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding GFL ENVIRONMENTAL INC and Dine Brands Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dine Brands Global and 36168QAK0 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 GFL ENVIRONMENTAL INC are associated (or correlated) with Dine Brands. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dine Brands Global has no effect on the direction of 36168QAK0 i.e., 36168QAK0 and Dine Brands go up and down completely randomly.
Pair Corralation between 36168QAK0 and Dine Brands
Assuming the 90 days trading horizon GFL ENVIRONMENTAL INC is expected to under-perform the Dine Brands. But the bond apears to be less risky and, when comparing its historical volatility, GFL ENVIRONMENTAL INC is 1.91 times less risky than Dine Brands. The bond trades about -0.23 of its potential returns per unit of risk. The Dine Brands Global is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 3,363 in Dine Brands Global on September 12, 2024 and sell it today you would lose (114.00) from holding Dine Brands Global or give up 3.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 81.82% |
| Values | Daily Returns |
GFL ENVIRONMENTAL INC vs. Dine Brands Global
Performance |
| Timeline |
| GFL ENVIRONMENTAL INC |
| Dine Brands Global |
36168QAK0 and Dine Brands Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 36168QAK0 and Dine Brands
The main advantage of trading using opposite 36168QAK0 and Dine Brands positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 36168QAK0 position performs unexpectedly, Dine Brands 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 Dine Brands will offset losses from the drop in Dine Brands' long position.| 36168QAK0 vs. AEP TEX INC | 36168QAK0 vs. US BANK NATIONAL | 36168QAK0 vs. Applied Blockchain | 36168QAK0 vs. BigBearai Holdings |
| Dine Brands vs. Noble Romans | Dine Brands vs. Good Times Restaurants | Dine Brands vs. Flanigans Enterprises | Dine Brands vs. FAT Brands |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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