Correlation Between GLENLN and Dow Jones
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By analyzing existing cross correlation between GLENLN 1625 27 APR 26 and Dow Jones Industrial, you can compare the effects of market volatilities on GLENLN 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 GLENLN with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of GLENLN and Dow Jones.
Diversification Opportunities for GLENLN and Dow Jones
Good diversification
The 3 months correlation between GLENLN and Dow is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding GLENLN 1625 27 APR 26 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 GLENLN 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 GLENLN 1625 27 APR 26 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 GLENLN i.e., GLENLN and Dow Jones go up and down completely randomly.
Pair Corralation between GLENLN and Dow Jones
Assuming the 90 days trading horizon GLENLN is expected to generate 8.31 times less return on investment than Dow Jones. But when comparing it to its historical volatility, GLENLN 1625 27 APR 26 is 1.08 times less risky than Dow Jones. It trades about 0.02 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 3,624,787 in Dow Jones Industrial on September 3, 2024 and sell it today you would earn a total of 853,413 from holding Dow Jones Industrial or generate 23.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 68.42% |
| Values | Daily Returns |
GLENLN 1625 27 APR 26 vs. Dow Jones Industrial
Performance |
| Timeline |
GLENLN and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
GLENLN 1625 27 APR 26
Pair trading matchups for GLENLN
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with GLENLN and Dow Jones
The main advantage of trading using opposite GLENLN and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GLENLN 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.| GLENLN vs. Cheniere Energy Partners | GLENLN vs. The Joint Corp | GLENLN vs. Esperion Therapeutics | GLENLN vs. NiSource |
| Dow Jones vs. Eastern Co | Dow Jones vs. Uber Technologies | Dow Jones vs. AKITA Drilling | Dow Jones vs. Chemours Co |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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