Correlation Between GRAPHIC and Dolphin Entertainment
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By analyzing existing cross correlation between GRAPHIC PACKAGING INTL and Dolphin Entertainment, you can compare the effects of market volatilities on GRAPHIC and Dolphin Entertainment 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 GRAPHIC with a short position of Dolphin Entertainment. Check out your portfolio center. Please also check ongoing floating volatility patterns of GRAPHIC and Dolphin Entertainment.
Diversification Opportunities for GRAPHIC and Dolphin Entertainment
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between GRAPHIC and Dolphin is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding GRAPHIC PACKAGING INTL and Dolphin Entertainment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dolphin Entertainment and GRAPHIC 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 GRAPHIC PACKAGING INTL are associated (or correlated) with Dolphin Entertainment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dolphin Entertainment has no effect on the direction of GRAPHIC i.e., GRAPHIC and Dolphin Entertainment go up and down completely randomly.
Pair Corralation between GRAPHIC and Dolphin Entertainment
Assuming the 90 days trading horizon GRAPHIC PACKAGING INTL is expected to generate 0.19 times more return on investment than Dolphin Entertainment. However, GRAPHIC PACKAGING INTL is 5.16 times less risky than Dolphin Entertainment. It trades about -0.28 of its potential returns per unit of risk. Dolphin Entertainment is currently generating about -0.09 per unit of risk. If you would invest 9,192 in GRAPHIC PACKAGING INTL on September 12, 2024 and sell it today you would lose (316.00) from holding GRAPHIC PACKAGING INTL or give up 3.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 68.18% |
| Values | Daily Returns |
GRAPHIC PACKAGING INTL vs. Dolphin Entertainment
Performance |
| Timeline |
| GRAPHIC PACKAGING INTL |
| Dolphin Entertainment |
GRAPHIC and Dolphin Entertainment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GRAPHIC and Dolphin Entertainment
The main advantage of trading using opposite GRAPHIC and Dolphin Entertainment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GRAPHIC position performs unexpectedly, Dolphin Entertainment 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 Dolphin Entertainment will offset losses from the drop in Dolphin Entertainment's long position.| GRAPHIC vs. Western Copper and | GRAPHIC vs. Uber Technologies | GRAPHIC vs. Paltalk | GRAPHIC vs. IPG Photonics |
| Dolphin Entertainment vs. Hall of Fame | Dolphin Entertainment vs. Wisekey International Holding | Dolphin Entertainment vs. Oriental Culture Holding |
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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