Correlation Between Walker Dunlop and XiAn Dagang
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By analyzing existing cross correlation between Walker Dunlop and XiAn Dagang Road, you can compare the effects of market volatilities on Walker Dunlop and XiAn Dagang 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 Walker Dunlop with a short position of XiAn Dagang. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and XiAn Dagang.
Diversification Opportunities for Walker Dunlop and XiAn Dagang
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Walker and XiAn is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and XiAn Dagang Road in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on XiAn Dagang Road and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with XiAn Dagang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XiAn Dagang Road has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and XiAn Dagang go up and down completely randomly.
Pair Corralation between Walker Dunlop and XiAn Dagang
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.89 times more return on investment than XiAn Dagang. However, Walker Dunlop is 1.12 times less risky than XiAn Dagang. It trades about -0.03 of its potential returns per unit of risk. XiAn Dagang Road is currently generating about -0.1 per unit of risk. If you would invest 9,721 in Walker Dunlop on November 1, 2024 and sell it today you would lose (157.00) from holding Walker Dunlop or give up 1.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. XiAn Dagang Road
Performance |
| Timeline |
| Walker Dunlop |
| XiAn Dagang Road |
Walker Dunlop and XiAn Dagang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and XiAn Dagang
The main advantage of trading using opposite Walker Dunlop and XiAn Dagang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, XiAn Dagang 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 XiAn Dagang will offset losses from the drop in XiAn Dagang's long position.| Walker Dunlop vs. Guild Holdings Co | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| XiAn Dagang vs. Kweichow Moutai Co | XiAn Dagang vs. Contemporary Amperex Technology | XiAn Dagang vs. G bits Network Technology | XiAn Dagang vs. Beijing Roborock Technology |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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