Correlation Between STANLN and Allient
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By analyzing existing cross correlation between STANLN 7767 16 NOV 28 and Allient, you can compare the effects of market volatilities on STANLN and Allient 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 STANLN with a short position of Allient. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANLN and Allient.
Diversification Opportunities for STANLN and Allient
Pay attention - limited upside
The 3 months correlation between STANLN and Allient is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANLN 7767 16 NOV 28 and Allient in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allient and STANLN 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 STANLN 7767 16 NOV 28 are associated (or correlated) with Allient. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allient has no effect on the direction of STANLN i.e., STANLN and Allient go up and down completely randomly.
Pair Corralation between STANLN and Allient
If you would invest 2,361 in Allient on October 24, 2024 and sell it today you would earn a total of 302.00 from holding Allient or generate 12.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.56% |
| Values | Daily Returns |
STANLN 7767 16 NOV 28 vs. Allient
Performance |
| Timeline |
| STANLN 7767 16 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Allient |
STANLN and Allient Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANLN and Allient
The main advantage of trading using opposite STANLN and Allient positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANLN position performs unexpectedly, Allient 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 Allient will offset losses from the drop in Allient's long position.| STANLN vs. Ambev SA ADR | STANLN vs. The Coca Cola | STANLN vs. Asbury Automotive Group | STANLN vs. Arhaus Inc |
| Allient vs. Ralph Lauren Corp | Allient vs. Skechers USA | Allient vs. Columbia Sportswear | Allient vs. Gerdau SA ADR |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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