Correlation Between Vanguard Strategic and EXELON
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By analyzing existing cross correlation between Vanguard Strategic Equity and EXELON P 51, you can compare the effects of market volatilities on Vanguard Strategic 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 Vanguard Strategic with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vanguard Strategic and EXELON.
Diversification Opportunities for Vanguard Strategic and EXELON
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Vanguard and EXELON is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Strategic Equity and EXELON P 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON P 51 and Vanguard Strategic 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 Vanguard Strategic Equity 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 P 51 has no effect on the direction of Vanguard Strategic i.e., Vanguard Strategic and EXELON go up and down completely randomly.
Pair Corralation between Vanguard Strategic and EXELON
Assuming the 90 days horizon Vanguard Strategic Equity is expected to generate 0.84 times more return on investment than EXELON. However, Vanguard Strategic Equity is 1.19 times less risky than EXELON. It trades about 0.13 of its potential returns per unit of risk. EXELON P 51 is currently generating about 0.01 per unit of risk. If you would invest 3,661 in Vanguard Strategic Equity on August 30, 2024 and sell it today you would earn a total of 669.00 from holding Vanguard Strategic Equity or generate 18.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 77.78% |
| Values | Daily Returns |
Vanguard Strategic Equity vs. EXELON P 51
Performance |
| Timeline |
| Vanguard Strategic Equity |
| EXELON P 51 |
Vanguard Strategic and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vanguard Strategic and EXELON
The main advantage of trading using opposite Vanguard Strategic and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vanguard Strategic 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.| Vanguard Strategic vs. Vanguard Global Equity | Vanguard Strategic vs. Vanguard Explorer Fund | Vanguard Strategic vs. Vanguard Selected Value | Vanguard Strategic vs. Vanguard Windsor Ii |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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