Correlation Between 931142EW9 and Dow Jones
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By analyzing existing cross correlation between WMT 39 09 SEP 25 and Dow Jones Industrial, you can compare the effects of market volatilities on 931142EW9 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 931142EW9 with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of 931142EW9 and Dow Jones.
Diversification Opportunities for 931142EW9 and Dow Jones
Very good diversification
The 3 months correlation between 931142EW9 and Dow is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding WMT 39 09 SEP 25 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 931142EW9 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 WMT 39 09 SEP 25 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 931142EW9 i.e., 931142EW9 and Dow Jones go up and down completely randomly.
Pair Corralation between 931142EW9 and Dow Jones
Assuming the 90 days trading horizon WMT 39 09 SEP 25 is expected to under-perform the Dow Jones. But the bond apears to be less risky and, when comparing its historical volatility, WMT 39 09 SEP 25 is 2.9 times less risky than Dow Jones. The bond trades about -0.16 of its potential returns per unit of risk. The Dow Jones Industrial is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 4,238,757 in Dow Jones Industrial on August 27, 2024 and sell it today you would earn a total of 190,894 from holding Dow Jones Industrial or generate 4.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WMT 39 09 SEP 25 vs. Dow Jones Industrial
Performance |
| Timeline |
931142EW9 and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
WMT 39 09 SEP 25
Pair trading matchups for 931142EW9
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with 931142EW9 and Dow Jones
The main advantage of trading using opposite 931142EW9 and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 931142EW9 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.| 931142EW9 vs. AEP TEX INC | 931142EW9 vs. US BANK NATIONAL | 931142EW9 vs. 3M Company | 931142EW9 vs. Alcoa Corp |
| Dow Jones vs. Meiwu Technology Co | Dow Jones vs. 17 Education Technology | Dow Jones vs. 51Talk Online Education | Dow Jones vs. Afya |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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