Correlation Between Vodka Brands and EXELON
Specify exactly 2 symbols:
By analyzing existing cross correlation between Vodka Brands Corp and EXELON GENERATION LLC, you can compare the effects of market volatilities on Vodka Brands and EXELON 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 Vodka Brands with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vodka Brands and EXELON.
Diversification Opportunities for Vodka Brands and EXELON
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Vodka and EXELON is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Vodka Brands Corp and EXELON GENERATION LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON GENERATION LLC and Vodka Brands 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 Vodka Brands Corp are associated (or correlated) with EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON GENERATION LLC has no effect on the direction of Vodka Brands i.e., Vodka Brands and EXELON go up and down completely randomly.
Pair Corralation between Vodka Brands and EXELON
Given the investment horizon of 90 days Vodka Brands Corp is expected to generate 1.87 times more return on investment than EXELON. However, Vodka Brands is 1.87 times more volatile than EXELON GENERATION LLC. It trades about 0.21 of its potential returns per unit of risk. EXELON GENERATION LLC is currently generating about -0.05 per unit of risk. If you would invest 99.00 in Vodka Brands Corp on September 12, 2024 and sell it today you would earn a total of 13.00 from holding Vodka Brands Corp or generate 13.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Vodka Brands Corp vs. EXELON GENERATION LLC
Performance |
| Timeline |
| Vodka Brands Corp |
| EXELON GENERATION LLC |
Vodka Brands and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vodka Brands and EXELON
The main advantage of trading using opposite Vodka Brands and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vodka Brands position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Vodka Brands vs. Andrew Peller Limited | Vodka Brands vs. Aristocrat Group Corp | Vodka Brands vs. Iconic Brands | Vodka Brands vs. Naked Wines plc |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Global Correlations Find global opportunities by holding instruments from different markets |