Correlation Between WESTERN ACQUISITION and Marblegate Acquisition
Can any of the company-specific risk be diversified away by investing in both WESTERN ACQUISITION and Marblegate Acquisition at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining WESTERN ACQUISITION and Marblegate Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WESTERN ACQUISITION VENTURES and Marblegate Acquisition Corp, you can compare the effects of market volatilities on WESTERN ACQUISITION and Marblegate Acquisition 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 WESTERN ACQUISITION with a short position of Marblegate Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of WESTERN ACQUISITION and Marblegate Acquisition.
Diversification Opportunities for WESTERN ACQUISITION and Marblegate Acquisition
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between WESTERN and Marblegate is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding WESTERN ACQUISITION VENTURES and Marblegate Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marblegate Acquisition and WESTERN ACQUISITION 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 WESTERN ACQUISITION VENTURES are associated (or correlated) with Marblegate Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marblegate Acquisition has no effect on the direction of WESTERN ACQUISITION i.e., WESTERN ACQUISITION and Marblegate Acquisition go up and down completely randomly.
Pair Corralation between WESTERN ACQUISITION and Marblegate Acquisition
If you would invest 1,109 in Marblegate Acquisition Corp on September 3, 2024 and sell it today you would earn a total of 4.00 from holding Marblegate Acquisition Corp or generate 0.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
WESTERN ACQUISITION VENTURES vs. Marblegate Acquisition Corp
Performance |
| Timeline |
| WESTERN ACQUISITION |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Marblegate Acquisition |
WESTERN ACQUISITION and Marblegate Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WESTERN ACQUISITION and Marblegate Acquisition
The main advantage of trading using opposite WESTERN ACQUISITION and Marblegate Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WESTERN ACQUISITION position performs unexpectedly, Marblegate Acquisition 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 Marblegate Acquisition will offset losses from the drop in Marblegate Acquisition's long position.| WESTERN ACQUISITION vs. Marblegate Acquisition Corp | WESTERN ACQUISITION vs. Alpha One | WESTERN ACQUISITION vs. Manaris Corp | WESTERN ACQUISITION vs. SCOR PK |
| Marblegate Acquisition vs. Alpha One | Marblegate Acquisition vs. Manaris Corp | Marblegate Acquisition vs. SCOR PK | Marblegate Acquisition vs. Aquagold International |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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