Correlation Between SOCGEN and Duluth Holdings
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By analyzing existing cross correlation between SOCGEN 4677 15 JUN 27 and Duluth Holdings, you can compare the effects of market volatilities on SOCGEN and Duluth Holdings 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 SOCGEN with a short position of Duluth Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of SOCGEN and Duluth Holdings.
Diversification Opportunities for SOCGEN and Duluth Holdings
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SOCGEN and Duluth is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding SOCGEN 4677 15 JUN 27 and Duluth Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duluth Holdings and SOCGEN 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 SOCGEN 4677 15 JUN 27 are associated (or correlated) with Duluth Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duluth Holdings has no effect on the direction of SOCGEN i.e., SOCGEN and Duluth Holdings go up and down completely randomly.
Pair Corralation between SOCGEN and Duluth Holdings
Assuming the 90 days trading horizon SOCGEN 4677 15 JUN 27 is expected to under-perform the Duluth Holdings. But the bond apears to be less risky and, when comparing its historical volatility, SOCGEN 4677 15 JUN 27 is 6.5 times less risky than Duluth Holdings. The bond trades about -0.3 of its potential returns per unit of risk. The Duluth Holdings is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 386.00 in Duluth Holdings on September 4, 2024 and sell it today you would earn a total of 3.00 from holding Duluth Holdings or generate 0.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 37.5% |
| Values | Daily Returns |
SOCGEN 4677 15 JUN 27 vs. Duluth Holdings
Performance |
| Timeline |
| SOCGEN 4677 15 |
| Duluth Holdings |
SOCGEN and Duluth Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SOCGEN and Duluth Holdings
The main advantage of trading using opposite SOCGEN and Duluth Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SOCGEN position performs unexpectedly, Duluth Holdings 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 Duluth Holdings will offset losses from the drop in Duluth Holdings' long position.| SOCGEN vs. Duluth Holdings | SOCGEN vs. Figs Inc | SOCGEN vs. Lincoln Electric Holdings | SOCGEN vs. Church Dwight |
| Duluth Holdings vs. Zumiez Inc | Duluth Holdings vs. JJill Inc | Duluth Holdings vs. Shoe Carnival | Duluth Holdings vs. Cato Corporation |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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