Correlation Between Mobile Telecommunicatio and EXELON
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By analyzing existing cross correlation between Mobile Telecommunications Ultrasector and EXELON P 51, you can compare the effects of market volatilities on Mobile Telecommunicatio 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 Mobile Telecommunicatio with a short position of EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mobile Telecommunicatio and EXELON.
Diversification Opportunities for Mobile Telecommunicatio and EXELON
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Mobile and EXELON is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Mobile Telecommunications Ultr 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 Mobile Telecommunicatio 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 Mobile Telecommunications Ultrasector 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 Mobile Telecommunicatio i.e., Mobile Telecommunicatio and EXELON go up and down completely randomly.
Pair Corralation between Mobile Telecommunicatio and EXELON
Assuming the 90 days horizon Mobile Telecommunicatio is expected to generate 9.9 times less return on investment than EXELON. But when comparing it to its historical volatility, Mobile Telecommunications Ultrasector is 1.27 times less risky than EXELON. It trades about 0.02 of its potential returns per unit of risk. EXELON P 51 is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 9,086 in EXELON P 51 on November 28, 2024 and sell it today you would earn a total of 352.00 from holding EXELON P 51 or generate 3.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 86.36% |
| Values | Daily Returns |
Mobile Telecommunications Ultr vs. EXELON P 51
Performance |
| Timeline |
| Mobile Telecommunicatio |
| EXELON P 51 |
Mobile Telecommunicatio and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mobile Telecommunicatio and EXELON
The main advantage of trading using opposite Mobile Telecommunicatio and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mobile Telecommunicatio 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.| Mobile Telecommunicatio vs. Legg Mason Bw | Mobile Telecommunicatio vs. Aqr Global Macro | Mobile Telecommunicatio vs. Morningstar Global Income | Mobile Telecommunicatio vs. Dws Global Macro |
| EXELON vs. Amkor Technology | EXELON vs. FARO Technologies | EXELON vs. Western Digital | EXELON vs. The Coca Cola |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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