Correlation Between 902613AC2 and ATT
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By analyzing existing cross correlation between UBS 1364 30 JAN 27 and ATT Inc, you can compare the effects of market volatilities on 902613AC2 and ATT 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 902613AC2 with a short position of ATT. Check out your portfolio center. Please also check ongoing floating volatility patterns of 902613AC2 and ATT.
Diversification Opportunities for 902613AC2 and ATT
Very good diversification
The 3 months correlation between 902613AC2 and ATT is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding UBS 1364 30 JAN 27 and ATT Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATT Inc and 902613AC2 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 UBS 1364 30 JAN 27 are associated (or correlated) with ATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT Inc has no effect on the direction of 902613AC2 i.e., 902613AC2 and ATT go up and down completely randomly.
Pair Corralation between 902613AC2 and ATT
Assuming the 90 days trading horizon UBS 1364 30 JAN 27 is expected to under-perform the ATT. In addition to that, 902613AC2 is 2.36 times more volatile than ATT Inc. It trades about -0.24 of its total potential returns per unit of risk. ATT Inc is currently generating about 0.25 per unit of volatility. If you would invest 2,212 in ATT Inc on September 2, 2024 and sell it today you would earn a total of 104.00 from holding ATT Inc or generate 4.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 76.19% |
| Values | Daily Returns |
UBS 1364 30 JAN 27 vs. ATT Inc
Performance |
| Timeline |
| UBS 1364 30 |
| ATT Inc |
902613AC2 and ATT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 902613AC2 and ATT
The main advantage of trading using opposite 902613AC2 and ATT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 902613AC2 position performs unexpectedly, ATT 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 ATT will offset losses from the drop in ATT's long position.| 902613AC2 vs. Allegiant Travel | 902613AC2 vs. Anheuser Busch Inbev | 902613AC2 vs. Aegean Airlines SA | 902613AC2 vs. Ambev 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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