Correlation Between Walker Dunlop and BTG Hotels
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By analyzing existing cross correlation between Walker Dunlop and BTG Hotels Group, you can compare the effects of market volatilities on Walker Dunlop and BTG Hotels 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 BTG Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and BTG Hotels.
Diversification Opportunities for Walker Dunlop and BTG Hotels
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and BTG is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and BTG Hotels Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Hotels Group 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 BTG Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Hotels Group has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and BTG Hotels go up and down completely randomly.
Pair Corralation between Walker Dunlop and BTG Hotels
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.79 times more return on investment than BTG Hotels. However, Walker Dunlop is 1.27 times less risky than BTG Hotels. It trades about 0.08 of its potential returns per unit of risk. BTG Hotels Group is currently generating about 0.01 per unit of risk. If you would invest 9,481 in Walker Dunlop on August 29, 2024 and sell it today you would earn a total of 1,575 from holding Walker Dunlop or generate 16.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 96.0% |
| Values | Daily Returns |
Walker Dunlop vs. BTG Hotels Group
Performance |
| Timeline |
| Walker Dunlop |
| BTG Hotels Group |
Walker Dunlop and BTG Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and BTG Hotels
The main advantage of trading using opposite Walker Dunlop and BTG Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, BTG Hotels 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 BTG Hotels will offset losses from the drop in BTG Hotels' long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| BTG Hotels vs. Biwin Storage Technology | BTG Hotels vs. PetroChina Co Ltd | BTG Hotels vs. Industrial and Commercial | BTG Hotels vs. China Construction Bank |
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.
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